It's Official: We Have a New Fed Chair As Jerome Powell's Long Farewell Finally Comes to an End
(redstate.com)
🏆 - WINNING - 🏆
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Guys, Powell’s term doesn’t end until 2028. Technically he may decide to stay until then, just not as fed chair. It would be unprecedented, but given the times we leave in, not unexpected.
Doesn't matter. All that matters is the interest rate, and now he can no longer unilaterally obstruct Trump's demand that it be lowered. He now has only one vote against it among 12 other members on the Federal Open Market Committee (FOMC).
Homeowners will finally be able to refinance for a reasonable rate, which is desperately needed after such a long period of unbridled inflation leading to an unreasonably high cost of living.
All very true, I’m hoping for a better economy under Warsh. I do hope Powell disappears into the sunset, but it may be better to keep the devil you know instead of getting a devil that you don’t know about.
I have a kitchen to remodel! I need a new driveway, my whole,e house needs to be painted, and my pool is going to need new walls. I can’t afford HELOC interest rates!
Bingo...
I don’t recommend belittling this development. This is huge that’s he’s replaced as the chair. He also has an ongoing investigation into his fraud with renovations. He is neutered and likely soon done. It’s a big ass deal. Trump’s man is in. Bigger deal.
Not belittling it, I do think it’s huge that Powell is no longer the chair. I’m actually excited to see what happens to our economy under Warsh. I just wanted to point out that people should not be surprised if Powell remains on the board.
He is on the suddenly died list.