The Federal Reserve is reported to be historically apolitical, meaning all considerations are absent of politics. However, no individual Federal Reserve Chairman has been more overtly political than Jerome Powell.
Today, after announcing yet again the Fed will not lower interest rates, Chairman Jerome Powell announced he will not leave the board of the federal reserve even after his term has expired and he is replaced by recently advanced Kevin Warsh. Powell said he plans to maintain a “low profile” as a governor, but it will be the first time since 1948 that a Federal Reserve Chairman has stayed on the board at the end of their chairmanship.
The Inspector General is currently reviewing the massive cost overrun for a new multi-billion-dollar Federal Reserve building that has been the heart of controversy since the initial $1 billion overrun was announced. “I’ve said that I will not leave the board until this investigation is well and truly over with transparency and finality, and I stand by that,” Powell said.
“Chairman Jerome Powell announced he will not leave the board of the federal reserve even after his term has expired and he is replaced”
Bummer. Was looking forward to some fresh vigor in that archaic establishment. Perhaps he would also like to maintain his presence on the board after he is embalmed.
<Perhaps he would also like to maintain his presence on the board after he is embalmed.>
A stiff task indeed 🙂
Basically, Powell is herpes.
Keeps a low profile for a while but will always flare up. Our corrupt judiciary won’t let it be executively managed.
<Basically, Powell is herpes.>
There’s a fine line between heroes and herpes 🙂
You’re “on fire” today. 😆
(I hear that’s what it feels like, but would not know!)
WORDMAN: My dad was a punster of sorts. Your posts always make me smile because 1) they are funny and 2) they remind me of him (who I miss dearly).
Wordman, you are the GOAT!! I had to read that twice before I “got it!”
Herpes, the gift that keeps on giving.
Isn’t that posh handbags? 😉
No that’s just another of Wordman’s fine lines. ☺️
That’s so funny
I got that.
Many of your observations and comments are iconic, original, and blunt. This is one of your best, I agree with it, and, as I am typing this response, I’m laughing. Keep’em coming Mrs. Sunshine
Dave Chappelle’s VD Gang skit:
Bravo, Wordman!
My thoughts exactly!
Will he be embalmed and placed in a crypt upon expiration?
Corrupt
Pompous
Jackass
Nudge, nudge, wink, wink…
Funny, I was hoping for some “fresh?” vigormortis… ok horrible pun… RIGORMORTIS to be more precise.
Aversion with hubris syndrome.
A huber Powell is.
President Trump appointed him as Chairman.
What I would like to know is who pushed Powell forward for the role and then championed him for it.
Betsy -From politico 2017
The process has been led by a tight circle of four administration officials including Mnuchin; Jeremy Katz, deputy director of the National Economic Council; Andrew Olmem, special assistant to the president for financial policy; and Johnny DeStefano, director of presidential personnel. Cohn was initially part of the process until Trump publicly named him in an interview with the Wall Street Journal as a potential candidate. Cohn then recused himself from the selection process
Thank you so much, sis 👍🏻
We’ll see how Warsh turns out. He’s just been approved by the Banking Committee for a full Senate vote.
You ask good questions.
Our President is much wiser this time, I know we were surprised by those who betrayed us, like Pence…can’t believe we didn’t see it before.
Says politics should stay out of the FED? Powell staying on is exactly a political move. Huge TDS move to stay in the spotlight and attack Trump at every turn.
🎯
Classic case of TDS if ever there was one. Loser.
He’d have to work his way up to be a loser!
That fossil is delusional. Must be hard for a globalist like Powell to admit defeat.
The President was asked a couple weeks ago in a press gaggle about Powell staying on after, his response to the reporter was “well then I’ll have to fire him, he won’t be staying.”
Fire hin, investigate him and arrest him as well as all those alongside him who are working to destroy our country. Folow this by closing down the Fed.
Yes get rid of the FED!
Fire him….
Oh good! Game on, Mr. President!
actually isn’t that the only way to bring charges on a lot of the ‘in office’ is to get them out. Seems he’s holding on with nothing left to hold onto. (Nice lyrics)
He’s a swamp creature and a crook. The first description is already proven, the second one will eventually come to light.
…and they perpetually piss and moan about our president’s monarch delusions!
😱
Yet, this incompetent scum asserts that he will stay on board until he damn well chooses to leave.
🤬
If there is justice in the world, “Well and truly over with”, ends with you in jail Jerome.
There’s always the hope that he’s thoroughly vaxxed and boosted!
He who controls the spice…
Funny how non-thinking people are. Like stepping in a manhole funny.
Spice?
From the movie Dune (1984)
https://www.imdb.com/title/tt0087182/?ref_=fn_t_4
Spices were one of the first forms of traded commodities.
Not only did spices flavor foods and drinks, but delayed food spoilage and prevented some food poisoning.
Salt was worth its weight in gold
Yep. While Pirates wanted gold and silver first, a spice ship was also a fine prize.
and until 1946 the king of France got a TAX on all salt sold in France.
Will happen again. Read Matthew 24.
MONEY, sometimes I get allusions of cleverness. It is a play on Dune.
So there are no governing documents detailing the status and state of a Fed Chairman after their term expires?
Really?
MIND BOGGLING how horribly our bureaucracy is set up. And it’s allllll by design. Sick F——-!!!
Fine. He can stay but no salary and no pension.
And change his office for a cell.
put him in a closet with the mops and brooms. No phone, no computer, no way to play solitaire all day, every day.
Another SES that thinks they are above reproach.
The Federal Reserve monarch is refusing to step away from the throne?
For the record, I believe he needs to be reminded we have no kings.
The Federal Reserve is a joke and abjectly political. It is antithetical to our republic.
The federal reserve is a foreign organization. It did not originate in this country.
Agreed.
It”s akin to Obama not leaving DC in 2016.
Powell trying to stay on the board is such an incredibly political move it is mind blowing.
Let him stay on the board to continue to manipulate anti-Trump philosophies and thwart the MAGA agenda.
If he figures out a way to achieve this, President Trump should do an executive order renaming Powell’s specific position as either Federal Reserve Jester or Federal Reserve Benedict Arnold.
Will no one rid us of this troublesome chairman?? Good grief! 🤬🤬🤬😃😃😃😃
Alternate headline:
Powell stays on so FED can pay massive pending legal bills.
The Federal Reserve is a member organization with the global banking collective. He has to stay to be a spy.
No Kings…
“well then I’ll have to fire him, he won’t be staying.”
From International Business News:
“Trump’s response was blunt: ‘Well then, I’ll have to fire him, OK?'”
President Trump, we’re all PRAYING for You!
May The LORD BLESS you with Wisdom and Discernment, in JESUS MIGHTY NAME! AMEN, AMEN, & AMEN
dude has become (or always was) a complete jacka**. Just leave already..
Two CEOs will not work.
Do a Captain Kirk – stun his ass and drag him out of the chair…
Don’t know of anyone who can’t be fired unless, of course, its someone in congress who seems to be able to vote from a hospital bed while unconscious.
His speech/talk was very political. He says he wants the FED to return to when it was non-political. In other words before PDJT, the guy is so politically biased it can not go unnoticed.
“I’ve said that I will not leave the board until this investigation is well and truly over with transparency and finality, and I stand by that,” Powell said.
So he is making himself out to be a consciences, true-to-his- word kind of a guy, is he?
As if he’s so full of moral character he will stay to see investigation through?
The investigation that is a result of his own grift and mis-management? That investigation he is so morally sticking around for?
Seems to me his presence is intended to impede an investigation… I know it’s (D)ifferent for some, but lets tap that NSA database to see what he’s up to!
Perhaps “I’m stying to ‘vote my way’ until I’m cleared”?
This is really one of those “moments of truth” for President Trump.
Fire the criminal. If he doesn’t vacate his office immediately, send U.S. Marshals in to arrest and remove him. Perp walk him out the door.
Of course, Lawfare Shenanigans will ensue.
Good.
Let the battle begin right now. Jerome Powell is not a King!
No Kings😂
Powell totally sounds innocent by refusing to leave until the investigation into him is complete by his standards.
🤣
No need of an /s tag here.
The way he described it, it sounded like a “deal” has been made. If billions were CREATED by the federal reserve itself, it feels like a conflict of interest (no pun intended). It would be more seemly if the US government office in charge of making “federal buildings” (or the US Department of Interior Decorating?) would be in charge of such things. And of course ALL of that spending needed to be approved by Congress and when costs overrun, they need to make subsequent requests.
It sounds like he just authorized everything for himself and did it. If you’re a “US Government organization” shouldn’t you have to do things the same way other government organizations do?
I remember SCOTUS saying that the Federal Reserve is retarded. …? No I think the word was “special”? Sorry but political correctness training taught me that special meant retarded.
“Will no one rid us of this damned Druid?”
Reminds me of the Mel Brooks classic, Spaceballs: “I knew it. I am surrounded by assh*les. Keep firing the assh*les..”
when is this son of a bitch going to be held accountable? His decisions are hurting millions of potential home buyers.
What an ass.
Please tell me the new Governor has the power to end the fed? This jerk really needs to go!
So he thinks he’s protecting (controling) his building scam among other things?
I take that to mean that he has control leverage (blackmail info?) over the other trustees. There are plenty of skeletons in closets that he (indeed, many) need to keep closed.
“The Federal Reserve is reported to be historically apolitical, meaning all considerations are absent of politics”
Sounds a lot U.S. like the U.S. Supreme Court.
I am watching a series on Netflex, called Blindspot , it has 4 FBI people team and a tattoo lady fighting a corrupt US government, it almost parallels what is going on now.
Well played 👍🏻
The Netflix series I am watching is The Blacklist,.. same special unit 4 man/woman FBI team vr Deep State/Criminals motif. And yes, too close to current WDC reality.
He has confirmed to the world what an ass we always knew he was.
Get the U.S. Marshall Service to throw him out
Powell knows he can much more effectively thwart the investigation from the inside.
That is why he is insisting on staying on as a governor, to protect himself from the consequences of his actions, and the malfeasance that happened while he served as chairman.
More of the same corruption and zero accountability American citizens are subjected to every day.
In a moral society this wouldn’t be tolerated, however all of government has fallen into corruption, and the people are powerless to do anything about it.
Yes. This sounds more like a public negotiation to me. Seems to me he is to telling Trump that he will make life difficult if he doesn’t have a guarantee he can walk away with zero fear of being prosecuted for his crimes.
Make him squeal before throwing in the separation pay and the villa in a country with non extradition.
“I will leave when I believe I won’t be prosecuted.”
Once he is in jail, the prosecution will rest.
Shadow TDS government is making him stay.
“Spys R US?”
That’s one disgraceful cost overrun on the building and indicative of a very poorly drafted contract. Couldn’t afford a lawyer? Pockets lined with no notice until Trump.
He wants to stay on the board so that he can obstruct any Warsh attempt to audit his despicable spending on that FED building.
If we have to finance his $3 billion upgrade to the Fed building, then we can ban him from entering it. Arrest him if he tries to force his way in.
Fire him along with Lorie Logan at Dallas NK up in Mpls. I got to hear Lorie Logan’s first speech as Dallas President at an oil and gas conference and it was abysmal. She cannot put two words together. And wouldn’t ya think it would be in the Fed best interest to put a governor in Dallas that knew a bit about the oil patch? Another left wing political hack.
So, it’s being investigated by the IG now. Who is the IG, I wondered:
The same names, over and over.
Do we know who appointed him, after he found all the fraud, waste, abuse, leaking, and other problems at the DOJ?
By staying on as part of the Fed Reserve Board … means the Fed Reserve pays for his legal bills as well as “participates” in his defense by default. It gives him a platform and soapbox that the media can spin is sanctioned by the FED.
Hopefully there is a mechanism to toss his sorry butt out the door, which the chairman and Fed Board can exercise
So, why not send a handful of US Marshals to his office the day his term expires? If he refuses to leave, have him arrested and charged with defiant trespass. Have security gather his personal belongings in a box, to be returned to him without admitting him. Simple really.
Yes Powell is much like Herpes but I will also add he is bluntly a pain in the A……. and thus much like a case of Hemorrhoids which involves chronic inflammation and persistent irritation to its victim. The entire US economy will suffer because of this disgusting person remaining as governor on board. We can only pray his stay is short-perhaps nudged by real life natural health issues or ‘family matters’ such as desires to spend more time with wife, grandchildren , etc.
Meanwhile may his profile be very low indeed on board!!!
I will praying for Warsh to bring Feds Reserve into 21 st century and keep ‘too late and too dumb’ Powell in his place .
He knows exactly what he is hurting, by paralyzing the economy through the mortgage rates.
An entire generation of young homeowners cannot move up as their families grow and open up the first time buyer market for our young families.
Mortgages they can afford after settle them with bullshit student loans is the least we could do for them.
It makes me sick. He thinks it hurts President Trump. Powell is a disgrace.
Honestly the proper solution for them is lower prices, not lower rates. The prices of homes have been wildly distorted by low rates in the past and government subsidies to illegals. Home prices in many areas probably need to drop by 50%, maybe more to get back to their utility value.
They need to refinance or gain more space for a growing family.
These kids are making money that took us 40 years. The price of the house means nothing if they can never afford $4,000.00 a month mortgage payments and eat.
But TPTB in the FED know this, is my point.
Higher rates help borrowers and lower rates help sellers in an environment where the total amount of the payment is capped (by someone’s ability to pay it).
At a 10% interest rate $4000 per month will buy you a 450,000 home (roughly).
At a 1% interest rate with the same $4000 payment, the seller can charge you 1,250,000 for the same home.
In the first case, your overall price is much lower and since financing is such a large percentage of the overall payment, every extra dollar you pay knocks thousands off of the interest expense.
In the second case, you payed a lot for the house and while you can pay extra each month, all you’re really doing is shortening the duration of the loan, there isn’t nearly as much interest cost to save on.
The lower rate supported the seller’s inflated price because if he tried to sell his home at the inflated 1.25M price and a 10% rate, the buyer would need to pay almost 11K per month. No one could afford that, so absent some lottery winner, he would have to lower his price into a range people could afford.
If someone already bought a home at an inflated price and is now hoping rates drop to bail them out, I’m sorry but they over payed. It doesn’t justify keeping everyone else out of the market because they can’t afford these prices.
True. The fools squawking about the rates need an education on home purchasing.
Unfair. As a Licensed Realtor for 10 years, who has owned 9 homes, I’m not a fool to the game.
The enemy is anti-Family and anti-Destiny, so his tool is also.
Fear not!
John 10:10
The thief comes only to steal and kill and destroy; I have come that they may have life, and have it to the full.
Yup and AMEN.
Translation: “I’m going to stay to make sure the Cover-Up stays covered up.”
In addition to Powell looting the Building Fund, CIA Enforcer James Boasberg is trying to stop the Investigation.
That tells me The Fed is Laundering the CIA’s Trafficking Monies.
How can he decide to stay on ?
There is a new boss in town Jerome and he’s looking at your cost overruns.
He can stay on the Board until his Board term is over.
But his term as Board CHAIRMAN ends in a couple weeks.
Staying on as a past Chairman is usually not done. But Powell is an a^^hole.
That lying Pos should instantly be fired and stick the screws to the globalist Fed crooks.
How many know the FED holds mortgages of Americans to the tune of 5.525 trillion dollars.
All our interest goes straight to many crooks.