Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
No, Bill. It Wasn’t ‘Fine’
Earlier this month, Bill Dudley penned an Op-Ed confidently declaring that the Fed will "be just fin
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
This is terrible for our country. Trump will effectively be able to set short term rates – which is bad enough. Even worse, however, will be his control over the Federal Reserve’s balance sheet. He will have way too much power at that point. The power to buy/sell long term Treasuries, corporate debt and even US equities (using the Fed’s balance sheet) can be used to extract whatever he wants from whomever he wants, whenever he wants.
This is the “stab in the heart” of free market capitalism in the USA. It was nice knowing you.
Every day this year has felt like a step towards the edge of a cliff where we can’t see the bottom of the chasm. We are just slowly walking towards that edge, methodically stepping towards what we all know to be certain doom, and ignoring that impending doom because we must convince ourselves we’re the dog depicted.
With all of the spending, and debt, criminality, and violence that is coming; it’s hard to imagine what the bottom of that chasm will look like. What will be left that can be fixed when we hit rock bottom? Or are we heading towards the next dark ages of humanity instead with the pedal to the metal?
Well said…..Unfortunately…..
Denial, anger, bargaining, depression, and acceptance. The bargaining stage is about over.
There’s a fix available:
Rep. Massie Introduces Federal Reserve Board Abolition Act to “End the Fed”
Washington, D.C.-, March 5, 2025
For Immediate Release
Contact: [email protected]
Contact #: 202-225-3465
WASHINGTON, D.C.- Representative Thomas Massie (R-KY) announces the introduction of H.R. 1846, the Federal Reserve Board Abolition Act. Rep. Massie’s legislation abolishes the Board of Governors of the Federal Reserve and the Federal Reserve banks. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System. Senator Mike Lee (R-UT) leads the companion bill in the United States Senate, S. 869.
https://massie.house.gov/news/documentsingle.aspx?DocumentID=395707
Bloomberg’s Odd Lots podcast yesterday with Lev Menan had some interesting discussion on how the Supreme Court’s Wilcox decision, where they carved out the Fed, likely led to the White House’s search for “cause”.
Just read the Appeasement piece. This comment fits better there, and H’s summary is more precise than the podcast.
“H’s summary is more precise than the podcast.”
Ha. Don’t tell Tracy and Joe.
Thiel has the oval, he now has CDC with new acting director and next he’ll have the regional banks and his banking charter he’s been waiting on.