According to the Federal Reserve, their purpose is to “to conduct the nation’s monetary policy, supervise and regulate banks, and maintain financial stability to promote a healthy economy. Specifically, the Fed aims to achieve maximum employment, stable prices, and moderate long term interest rates. Given they have achieved the opposite of what their designed purpose is stipulated to be – they should be FIRED.
In fact, Jerome Powell achieved the exact opposite of what he was hired to achieve! All while moonlighting at the Bank of International Settlements (BIS). A Direct Conflict of Interest. The purpose of BIS is to support central bank’s pursuit of monetary and financial stability through international cooperation. If that stability is defined as ‘excessive profits’ – they have achieved their Don Quixote quest. It is an interesting note that BIS’ objective does not embrace People/Citizens – prosperity.
How is BIS funded? BIS is owned by 63 global central banks who each contribute to their funding. According to their last Financial Statement 3/24, total revenue of $1.2 billion produced a Net Profit of $831 million. The Chairman of the Board running BIS is François Villeroy de Galhau. He has an Engineering degree.
According to the very liberal Atlantic Magazine, Trump is flirting with economic disaster by threatening the independence of the Federal Reserve. WHY should the Federal Reserve be independent? The COINED RESPONSE: “it allows the central bank to focus on long-term economic stability and avoid short-term political pressures that could lead to unstable policies. This independence helps the Fed maintain credibility with the public and financial markets, ensuring its policies have the desired impact.”
The Reality? It gives them unprecedented control which cannot be usurped. The idea that a bank is not political, that banking heads are not political, that there is even such a thing as unbiased is absurdity to extreme. What exactly does Powell ‘DO’ every day? He hasn’t addressed monetary policy. He hasn’t addressed interest rates. Inflation? He ignored the 200% under Biden… and instead allowed Banks to out-perform equities.
Trump has repeatedly criticized Powell for not lowering interest rates so as to give a boost to the Housing Market. During the Biden Regime in response to higher interest rates, the home selling was going to hedge funds instead of home-buyers. The purpose was to take control over the rental market – given that black districts were heavily targeted.
While the present economy is ripe for lower interest rates, the largess blockade would be – BANKS. Lowering interest rates would lower the 60% profit margins they have enjoyed. Lowering rates would stimulate the economy and add more jobs – More jobs equal more spending equal lower prices. But that wouldn’t align with Powell’s political motives… IF Powell is starkly fearful of the economic impact Tariffs could have on America, then in a perfect world he would be looking to offset that effect and stimulate the economy with lower interest rates. Instead, Powell is sitting around doing absolutely nothing – another nonessential position – in a Manipulative Federal Reserve that historically has never ‘fixed’ the economy.
Thus, Trump is correct – Powell is politically motivated and is NOT doing his job. Instead, he has suddenly become a Wilbur Milktoast blubbering with all the mental prowess and intellect of Porky The Pig. Powell needs a pink slip.
While the Federal reserve is NOT funded via Congressional appropriations, it’s initial funding was thru the sale of shares National member were required to purchase of capital stock in their local Reserve Bank in order to become members of the System. Today, the Reserve lives off its interest and dividends from those initial transactions.
In order for the Reserve to work effectively, it needs to be in sync with the actions of The President and Congress by virtue of its Charter which was supposed to last just 20 years. However, that particular stipulation was amended to perpetuity by FDR. The Reserve is governed by a Board of Directors, which is an agency of the Federal Government, who are directly accountable to the President and Congress. Therefore, it’s ‘independence’ is moot. It’s Board of Governors MUST abide by President Trump as that is who they are accountable.
Thus if the sitting President believes the Board is NOT guiding Jerome Powell in accordance with their duty to promote a stable economy with moderate interest rates, then the entire board and Powell can be relieved for failure to exercise due diligence in their roles. The Chain of Command.