12 Comments
User's avatar
Lance Khrome's avatar

"During Alan Ginsburg’s 18-year tenure as Fed chair between 1987 and 2006...":

Alan who? You must mean Mr Andrea Mitchell, right? The Greenspan chap, yes?

Expand full comment
pts's avatar

Yes, that one -- the one to whom writer Matt Taibbi devoted an entire chapter, titled "The Biggest Asshole in the Universe," in his book _Griftopia_.

Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History: https://www.ebay.com/p/108917369

Not pointing to Amazon, for obvious reasons.

Expand full comment
Mark Mansour's avatar

Very perceptive and obviously true on all counts.

Expand full comment
pete gee's avatar

By that time you may not even have a workable, trustworthy judicial or electoral system!

Just a looming civil war ...IF you are lucky!

Expand full comment
Nancy Vanden Houten's avatar

Just a small FYI, the FOMC meets 8 times a year, not quarterly

Expand full comment
Ron Sluiter's avatar

Hopefully, the Federal Reserve hasn't outsourced its security. When Felon Trump fires Powell and the DOGie security people come to remove him from the building, he might have a chance keeping his office.

Expand full comment
RCThweatt's avatar

Have worked in Fed bldgs in NY and NJ. They then had their own well armed police, riot guns and assualt rifles. The bldgs themselves are well fortified, security procedures elaborate. Enrique and the boys wouldn't have much luck. Can't imagine that's changed.

In one of the Diehard movies, Fed's gold vault at 25 Maiden Lane in Manhattan is robbed. I've seen it, and,uh, no.

Expand full comment
Camille's avatar

Pay attention to the president's posts, begs to wonder what country he is talking about where all these prices have gone down and continue to go down. Such a liar.

Expand full comment
pts's avatar

Yeah, Moore. What an idiot. To the "not sane" group of economic advisors, add Peter Navarro, to the country's great detriment again polluting the economic policy waters, and Larry (I'm not an economist but I played one on TV) Kudlow.

Expand full comment
David DeVere's avatar

Donald-Nomics gives you Mickey Mouse results

Expand full comment
dale coberly's avatar

i wonder how muchthe Fed can do to steer the economy when it is being driven by a madman.

I think...do not claim to know... that the Fed's tools are designed to deal with "normal" ups and downs, and even had trouble dealing with an economy slowed by Covid while inflation was being caused by supply chain shortages, some engineered by people with the power to do so.

Expand full comment
dale coberly's avatar

do so. the edit feature cancels itself.

Expand full comment