Biden Wants To Rip The Federal Reserve Apart

[] The governing and setting of interest rate policies a hot-button issue this election year [] [] [] Biden Wants To Rip The Federal Reserve Apart No folks, I’m not kidding. The current administration has made the governing and setting of interest rate policies a hot-button issue this election year, with some on Biden’s team talking about wanting to strip the central banks' independent status and put the president in charge of setting interest rates. Now this can be problematic in many ways, from interest rates being used as a political tool, to misusing rates for personal or political purposes causing a nationwide or even global financial collapse. All in all, it’s a really really terrible, very bad idea. In a speech in March, Biden shared "I bet you that that little outfit that sets interest rates is going to come down.” And he’s made a couple of other comments similar to that since. These have received a good bit of scrutiny as the Federal Reserve and the central banks are independent agencies for the purpose of keeping politics out of monetary policy. The White House’s Press Secretary Karine Jean-Pierre had to play defense and argued that Biden’s comments were not an effort to direct the Fed. She said this is what was meant instead: "he's reflected a public interpretation of recent data. That's what he's speaking to." The Biden admin had to then play further defense and even released a blog post from the White House Council of Economic Advisors titled “The Importance of Central Bank Independence”. It touched on historical issues of White House meddling in monetary policy and bad economic outcomes, with the authors sharing that they "thought this was a good moment to explain.” But the fact remains that having any president, especially someone who isn’t an experienced economist and central banker, in charge of setting interest rates and monetary policy is incredibly unwise. Let’s take politics out of it completely and think about it this way: I’m sure your dentist is a very smart guy, he did a lot of schooling, knows his profession, etc. Would you trust him to perform surgery on your leg? That’s about the furthest thing from teeth as someone can get. At the end of the day, we need the right person in the right place, doing the right job that they are “good” at. Now, I wouldn't exactly classify the Fed as doing a “good” job right now, as their monetary policy has been quite disastrous as we’ve seen from the sky-high inflation, poor GDP growth, and labor constraints we are seeing. In fact, I am probably on the more extreme side when it comes to the Federal Reserve as I don’t think they should even exist… Plus, it’s not like they haven’t been political anyway. The point of this article isn’t to talk about how great the Fed is… However, the only thing worse than the machine we have now would be letting a President run it on the whims of his mood. That’s why we are supposed to have an independent central bank (mostly) free from political pressures. Rather than a career politician setting interest rates that make them more favorable with the populous. Powell's term as the Fed chair doesn't expire until 2026, and current policy says he can only be fired "for cause." So could Biden fire Jerome Powell? Technically, but legal experts aren't sure exactly what would happen if a President tried to fire the central banker over a policy disagreement. If we saw a political candidate begin attempting to use monetary policy for their own gain we would likely see a huge pushback from Wall Street. That level of market manipulation would likely cause so much instability and volatility in the markets that investors would be running for the hills. [] To your trading success, Nate Oh, hey, if you want to ignore all this hectic nonsense and just trade Automated Options with me, I highly recommend it! [Just tap here to learn how to take advantage!]( [] Biden Wants To Rip The Federal Reserve Apart No folks, I’m not kidding. The current administration has made the governing and setting of interest rate policies a hot-button issue this election year, with some on Biden’s team talking about wanting to strip the central banks' independent status and put the president in charge of setting interest rates. Now this can be problematic in many ways, from interest rates being used as a political tool, to misusing rates for personal or political purposes causing a nationwide or even global financial collapse. All in all, it’s a really really terrible, very bad idea. In a speech in March, Biden shared "I bet you that that little outfit that sets interest rates is going to come down.” And he’s made a couple of other comments similar to that since. These have received a good bit of scrutiny as the Federal Reserve and the central banks are independent agencies for the purpose of keeping politics out of monetary policy. The White House’s Press Secretary Karine Jean-Pierre had to play defense and argued that Biden’s comments were not an effort to direct the Fed. She said this is what was meant instead: "he's reflected a public interpretation of recent data. That's what he's speaking to." The Biden admin had to then play further defense and even released a blog post from the White House Council of Economic Advisors titled “The Importance of Central Bank Independence”. It touched on historical issues of White House meddling in monetary policy and bad economic outcomes, with the authors sharing that they "thought this was a good moment to explain.” But the fact remains that having any president, especially someone who isn’t an experienced economist and central banker, in charge of setting interest rates and monetary policy is incredibly unwise. Let’s take politics out of it completely and think about it this way: I’m sure your dentist is a very smart guy, he did a lot of schooling, knows his profession, etc. Would you trust him to perform surgery on your leg? That’s about the furthest thing from teeth as someone can get. At the end of the day, we need the right person in the right place, doing the right job that they are “good” at. Now, I wouldn't exactly classify the Fed as doing a “good” job right now, as their monetary policy has been quite disastrous as we’ve seen from the sky-high inflation, poor GDP growth, and labor constraints we are seeing. In fact, I am probably on the more extreme side when it comes to the Federal Reserve as I don’t think they should even exist… Plus, it’s not like they haven’t been political anyway. The point of this article isn’t to talk about how great the Fed is… However, the only thing worse than the machine we have now would be letting a President run it on the whims of his mood. That’s why we are supposed to have an independent central bank (mostly) free from political pressures. Rather than a career politician setting interest rates that make them more favorable with the populous. Powell's term as the Fed chair doesn't expire until 2026, and current policy says he can only be fired "for cause." So could Biden fire Jerome Powell? Technically, but legal experts aren't sure exactly what would happen if a President tried to fire the central banker over a policy disagreement. If we saw a political candidate begin attempting to use monetary policy for their own gain we would likely see a huge pushback from Wall Street. That level of market manipulation would likely cause so much instability and volatility in the markets that investors would be running for the hills. [] To your trading success, Nate Oh, hey, if you want to ignore all this hectic nonsense and just trade Automated Options with me, I highly recommend it! [Just tap here to learn how to take advantage!]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Jeffry Turnmire Trading provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Jeffry Turnmire Trading are for your informational purposes only. Neither Jeffry Turnmire Trading nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Jeffry Turnmire Trading is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Jeffry Turnmire Trading provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Jeffry Turnmire Trading are for your informational purposes only. Neither Jeffry Turnmire Trading nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Jeffry Turnmire Trading is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub](