15d • General discussion
New Fed Chair Approved 😳
A new Fed Chair Kevin Warsh was voted in yesterday. Jerome Powell was the previous one and he and Trump often bumped heads. One of the main things the Fed does is control interest rates.
Trump has wanted interest rates cut for a very long time and Powell refused to just do what the President wanted, but instead do what he felt the economy needed based on numbers and facts.
The idea is that when interest rates are lowered people will spend more rather than save and interest rates on mortgages and other things are lowered.
Many see Warsh as a Trump loyalist. Do you think we would see the Fed cut interest rates because of it?
He will cut rates
He will do what needs to be done based on facts
Don’t know
Don’t care
2
7 comments
New Fed Chair Approved 😳
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