Totally agree on the persona. It's why with all things considered he was still the best choice by far compared to the other option, even though I don't agree with him on everything. You won't hear me regret my vote for him.

richardag said:

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aggiehawg said:

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🚨 BREAKING: President Trump is OPENLY GRILLING Jerome Powell to his face at the Federal Reserve Building in DC

This comes after Trump found out the total for the renovations are actually $3.1 BILLION

“What are all these overruns about?!"

Holy CRAP this is an amazing watch 🤣 pic.twitter.com/Dh4ltIXF6p

— Nick Sortor (@nicksortor) July 24, 2025

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Quote:"What are all these overruns about?"

short answer: grift

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It's not grift. It's all the administrative state costs/ HSE & Q oversite and compliance.

flown-the-coop said:

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I am going to admit an error here so I will pause for screenshots and the like.

I happened to have spent the evening with someone who has spent time with Powell and his predecessors including Yellen and Bernanke. To surprise of no one, o asked "what the **** is wrong with Powell? Is he a commie, f'ed in the head, never trumped?".

Evidently Powell is a very relatable guy. He just tends to hold his cards in his sleeve. So let's say Trump wants to cut 300 basis points. Powell knows the market could take 400. But that spends all the dry powder, reserve ammo should a pandemic befall us or war breaks out or Kayne West starts global intifada.

Powell is very restrained, to a fault by some including me, of keeping too much powder dry and losing the fight.

Had not really considered this aspect of Powell but sometimes if helps to get a personal read. It points to why Powell was likely highly recommended to Trump. Yellen talked to no one and Bernanke evidently knew he was the smartest guy in the room.

I don't retract my criticism of Powell as I still think he is always too late and too little. He comes from a different, more restrained era.

That's it. You can disregard what I wrote if all you want to do is "yea, you know a guy". But yea, I do know a guy.

-mfbarnes according to haterz

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He's not wrong.

Ducks4brkfast said:

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richardag said:

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aggiehawg said:

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🚨 BREAKING: President Trump is OPENLY GRILLING Jerome Powell to his face at the Federal Reserve Building in DC

This comes after Trump found out the total for the renovations are actually $3.1 BILLION

“What are all these overruns about?!"

Holy CRAP this is an amazing watch 🤣 pic.twitter.com/Dh4ltIXF6p

— Nick Sortor (@nicksortor) July 24, 2025

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Quote:"What are all these overruns about?"

short answer: grift

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It's not grift. It's all the administrative state costs/ HSE & Q oversite and compliance.

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Jerome Powell may not be involved with any grift, that said, a $2.9 billion overrun on a $1.9 billion project certainly indicates grift, a lot of grift.
https://texags.com/forums/16/topics/3536704/replies/70566485

• Actually Trump is correct. That building is part of the overall FED project that has been going on since his first administration and it's part of the project that was initially budgeted at $1.9 billion, has surged to an estimated cost of $3.1 billion. That other building is the Martin Building that the renovation was completed five years ago. The current renovations that are still in the works are the Marriner S. Eccles Building and 1951 Constitution Ave building. Go look at the paperwork on the FED website it's all there. Powell is claiming it's overrun is only $2.9 billion instead of the $3.1 billion, even at the 2.9 it's a billion dollars over the AFE.

Quote:

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Kevin Warsh said if he is appointed he will cut them a half point day one.

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Not how it works

Windy City Ag said:

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Quote:

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Kevin Warsh said if he is appointed he will cut them a half point day one.

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Not how it works

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

Dirty_Mike&the_boys said:

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Windy City Ag said:

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Quote:

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Kevin Warsh said if he is appointed he will cut them a half point day one.

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Not how it works

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

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It's very clear in law that the Fed chair doesn't have unilateral authority to cut rates, no matter what a wannabe replacement for Powell says. The Fed committee votes on it. The chair surely has influence but that only goes so far.

Separate from the Trump vs. Powell issue, I despise these folks that are gunning for Powell and openly running for the position this far in advance of Powell's departure. It's just very bad form and comes across as low integrity.

Quote:

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It's very clear in law that the Fed chair doesn't have unilateral authority to cut rates, no matter what a wannabe replacement for Powell says. The Fed committee votes on it. The chair surely has influence but that only goes so far.

Separate from the Trump vs. Powell issue, I despise these folks that are gunning for Powell and openly running for the position this far in advance of Powell's departure. It's just very bad form and comes across as low integrity.

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Yeah, but that is how the game is played in the current White House. None of the current cabinet is chosen for independent thinking. You have to loudly signal that you will do exactly what the President wants without any hesitation. I can't imagine an aspiring Fed chair would air anything contrary either.

Most all of Warsh's relevance is the fact that he married a an heir to the Estee Lauder fortune who is worth more than $2 Billion. That gives you a whole lot of donating firepower and explains how he was nominated to the Fed position in 2006 at age 35 despite not having much in the way of relevant experience for the job.

He was really scattershot and downright wrong on many things in his first stint.

Warsh is also an example of how so many MAGA folks completely shut their brain down when appraising the actions of Trump. Warsh is very swampy, joining the Bilderberg Group and was viewed as a globalist for years.

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

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Again, not how it works. Read up on the subject and you will understand.

The Fed Chair is much more akin to a talking head and organizer. They decisions are made (by design) by a diverse committee of voting members assembled to balance regional and national interests. Decisions are more akin to Supreme Court decisions except in this case, there is no real ideological bent. Most all are Phd toting academics and debate things outside of political concern.

Windy City Ag said:

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Quote:

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

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Again, not how it works. Read up on the subject and you will understand.

The Fed Chair is much more akin to a talking head and organizer. They decisions are made (by design) by a diverse committee of voting members assembled to balance regional and national interests. Decisions are more akin to Supreme Court decisions except in this case, there is no real ideological bent. Most all are Phd toting academics and debate things outside of political concern.

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Yep. Low IQ voters think that Powell is solely in control.

Windy City Ag said:

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Quote:

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

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Again, not how it works. Read up on the subject and you will understand.

The Fed Chair is much more akin to a talking head and organizer. They decisions are made (by design) by a diverse committee of voting members assembled to balance regional and national interests. Decisions are more akin to Supreme Court decisions except in this case, there is no real ideological bent. Most all are Phd toting academics and debate things outside of political concern.

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Austan Goolseby is the Chicago Fed governor and was literally working for Obama.

He is virulently liberal and partisan.

4 said:

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Windy City Ag said:

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Quote:

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Well Kevin Warsh was the Governor of the Federal Reserve for 12 years so pardon me if I take his word over it rather than yours

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Again, not how it works. Read up on the subject and you will understand.

The Fed Chair is much more akin to a talking head and organizer. They decisions are made (by design) by a diverse committee of voting members assembled to balance regional and national interests. Decisions are more akin to Supreme Court decisions except in this case, there is no real ideological bent. Most all are Phd toting academics and debate things outside of political concern.

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Austan Goolseby is the Chicago Fed governor and was literally working for Obama.

He is virulently liberal and partisan.

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He's not a Fed Governor

He was partisan when he was in the Obama administrationas CEA chair because that was the job.. He and Randy Krozner, conservative former governor appointed by George W., are buds. They both were University of Chicago profs.

Goolsbee is from Waco and is a cool, interesting dude.

Windy City Ag said:

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He was partisan when he was in the Obama administrationas CEA chair because that was the job.. He and Randy Krozner, conservative former governor appointed by George W., are buds. They both were University of Chicago profs.

Goolsbee is from Waco and is a cool, interesting dude.

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I know exactly who he is. In Trump's first administration Goolsbee railed against Trump's economic policy claim he was going to run the economy in the ground with his tax cuts. Said a recession would be the result and of course he was wrong. Cavuto loved having him on his show to bash everything Trump.

Correct. He was always the lib angle on the Fox shows. I get the more partisan antics are part of that role, but he certainly is not a Trump supporter.

Powell keeps rates the same

I just want to refinance my house ffs

Trump puts ol' Jerome on blast again.

Donald J. Trump Truth Social 08.01.25 06:32 AM EST

Jerome “Too Late” Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!

— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) August 1, 2025

I don't think this is real effective, personally. The board did just vote this week, and only 2 of 9 I think wanted to cut rates. Bond rates are still well above 4.

The Fed has 12 voting members. 10 of 12 voted to keep rates flat.

Edit to add the media is reporting the vote was 9 to 2. Don't know what's driving the missing vote.

Best of luck with your house not sure a couple of 25 points moves will help with your re-Fi

Think Trump is just throwing chum in the water when the Powell fish is already decaying and attracting plenty of sharks on its own.

Here Trump can bloviate on and on about Too Late Powell and then when the already planned for change happens, Trump will announce victory and then a huge see I told you so when rate cuts are announced and markets move accordingly.

Remember, Trump never admits defeat. He just moves on and tells you how big the next win will be. Like it or not, his stripes really do not change when it comes to this sort of twitter-bashing thing.

Quote:

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Edit to add the media is reporting the vote was 9 to 2. Don't know what's driving the missing vote.

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Adrian Kugler was not present and did not vote . . no reason given.

nortex97 said:

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I don't think this is real effective, personally.

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It does not matter what Trump says or does. Powell is going to #RESIST

Remember folks, inflation is transitory. They told us so.

🚨 Fed Watch: Governor Michelle Bowman says she pushed for a 0.25% rate cut in July, citing a fragile labor market & slowing growth. She foresees 3 rate cuts before 2026, even with inflation still above 2%. Bowman argued the Fed should have moved to lower borrowing costs and… pic.twitter.com/XCLaMW2e4X

— Gerard W. Martinez-Preiti, NMLS #966890 (@EdgeMortgagePro) August 12, 2025

If so, we are headed for stagflation again.

Core CPI inflation is now up for 3 straight months for the first time since September 2022 and above 3%.

The only saving grace is oil production is going gang busters!

People spend way too much time trying to predict the economy based on single factors.

Tariffs are inflationary! Well, they aren't and as pointed out they typically are long term deflationary..

We headed for stagflation! Again, rate cuts are not going to do anything but cheapen our interest carry for both public and private sectors.

The global economy and the US economy's relation to it are way more complex than tariff policy, fed interest rates, single point in time CPI data, inaccurate job reports, etc.

What we do know is Trump is a pull all the levers and let's see what works and what doesn't. Trump will never admit to what doesn't work, so you have to pay attention to things that are quietly disregarded or "adjusted" after he preaches on a subject.

What we do know is Trump has some A++ economic growth guys on board and they are pushing fast and farther ahead.

I would bet on the US economy during the Trump term, though 2H 2025 may "seem" bumpy and erratic. If that's not for you, buy gold.