r/wallstreetbets • u/abishop717 • 23h ago

Discussion 5 rate cuts šŸ˜®

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2.2k Upvotes

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1.6k

u/Rrrrandle 23h ago

The feds job isn't to save the stock market, it's to keep inflation and unemployment low. Lowering rates now does nothing for either.

301

u/Thatineweirdguy 23h ago

Thank you for a sane response.

26

u/adrr 21h ago

Did someone tell JPowell that?

138

u/ChaseballBat 20h ago

TBH JPowell is sane. I respect him for not bowing down to that idiot.

85

u/Tha_Sly_Fox 18h ago

A journalist asked him about a trump quote and Powell literally said ā€œI donā€™t respond to comments made by politiciansā€ and then reiterated the Feds mandate

What a boss.

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u/Rgarza05 20h ago

I mean I was confused why Biden kept him on but he has proven to know what he is doing. He has lowered inflation without a recession.

13

u/Unfair_Inspection_59 19h ago

I bet this week heā€™s all ā€œfuck this; Iā€™m out.ā€

11

u/skoalbrother 11h ago

I hope he doesn't because MTG is his replacement

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u/More-Ad-5003 9h ago

Is this real ? šŸ˜…

5

u/DickFineman73 8h ago

No - it'll end up being someone even more stupid.

-7

u/fuckdonaldtrump7 19h ago edited 19h ago

Lmao the Pres doesn't have control to dismiss the Fed chair. They can nominate in conjunction with the Senate.

Edit: my bad forgot his term was up in 2022 and Biden could have replaced.

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u/JayDub1565 19h ago

Biden had the opportunity to appoint someone else in 2022, but instead he reappointed JPow. It was about dismissing him

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u/fuckdonaldtrump7 19h ago

Ahh I see his term was up under Biden. Apologies

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u/metalpig0 16h ago

Exactly. They have a ā€œdual mandateā€ but itā€™s propaganda. Their real mandate is to maintain high asset prices on behalf of the capitalist class.