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Powell’s Record Low Approval Is Symptom Of Broader Ailment
Never before has a Fed chair "enjoyed" a lower approval rating among the voting public than Jerome Powell does right now.
That's according to a new Gallup poll released on Tuesday. Asked how much confidence they have in Powell to do the "right thing for the economy," a combined 54% of respondents said "only a little" or "almost none."
Powell, whose star-crossed tenure at the top of the world's most important institution is a case study in misfortune, now owns the worst approval rating of any F
I blame Fox News. Murdoch is the closest thing living (kinda) to actual evil.
In case you want to dismiss me as obviously biased and partisan, please note that it was Fox News that made the GOP into a joke, a party no longer seriously capable of governing. I never was a conservative but Mitt Romney or John McCain could more or less be trusted (more or less b/c “bomb, bomb, bomb Iran” was not a grown up idea) to run things. Trump and Marjorie Taylor Greene? God have mercy on us if they ever get executive power (again)…
It’s also Fox News that exquisitely surface every inept, stupid thing done by progressives anywhere in the land. And, yeah, progressives do stupid things, have self imposed idiotic beliefs they can get away with boldly clamouring for on Twitter but doesn’t make a lick of sense in the real world (say, abolishing the police). But anyone with a reasonably functioning brain would point out that a couple of cities asides (Portland, SF), these stupid beliefs have not translated into policies, let alone federal policies. Biden defeated all of his more progressive opponents with ease.
So yeah. Vote for Mitt Romney and I’ll disagree. Vote for Marjorie Taylor Greene and I agree with her we need to split the country in two… Thanks Fox. Thanks Murdoch. Did he really need those few extra billions he made from whipping conservatives into a frenzy since 2008?
Of course they trust Powell more than Yellen, she’s a woman, that’s an automatic 25 point deduction in the Grande Olde Partay.
Corporate money built this. Near total regulatory capture and an echochamber of finger pointing to escape blame for everything falling apart. If partisanship can no longer be blamed, then ethnic and other things will be blamed.
Wealthy sociopaths who are in charge via lobbying. propaganda and religion would rather live behind armed guards, barbed wire, high walls and travel in armored buses to their galas and parties than accept any blame or even an unnoticable “tax burden.”
Partisanship is merely the first scapegoat. This has been going on with our species since we lived in thatch huts.
Pyro – some interesting thoughts there. Like living as a wealthy expat in an emerging nation.
At the corporate level, doesn’t the same apply to some extent when companies relocate to low tax/low service states to bolster their bottom lines? Tax savings for the owners, gated communities & private school tuitions for those who chose to relocate with the company.
Polling people who don’t know the first thing about economics or even their own bank accounts (one thing Trump does know about) is silly. So what if they don’t approve of Powell? He’s not an elected official and is subject to term limits, something that can’t be said about MTG. I’m more concerned about whether these same people still approve of Justice Thomas, a self-confessed crook in our Supreme Court who just flipped off our whole population.
I don’t know. To me it says, Ask an ordinary American a serious question and chances are pretty good you’ll get a dumb response.
The economy evolves dynamically with the ebb and flow of our people and our financial and economic ways.
So maybe a soft landing would have been more likely if the Fed had acted sooner. It may still happen actually. But on the other hand, how can I forget certain facts?
We had a pandemic.
We threw money at it.
The economy kept its head above water.
Biden threw more money at it.
But before all that, there was Trump. One factor in our current state of affairs is this: Trump cut taxes drastically for the wealthiest Americans, leaving most tax payers to pay in greater proportions from a smaller scope of financial resources.
Jerome Powell isn’t the greatest, but he’s hanging in there. He actually could have done much worse. And he’s certainly not the source of greed-fation.
Paul Volcker was very unpopular at times, targeted with political attacks and large protests at the Fed’s building.
In comparison, Elizabeth Warren’s needling and a low Gallup poll are small beer.
Powell knows all that.
When you’re Fed chairman, you don’t need to care what the public or even politicians think. Kind of like when you’re a Supreme Court justice, apparently.