r/wallstreetbets • u/abishop717 • 1d ago

Discussion 5 rate cuts šŸ˜®

Post image
2.3k Upvotes

94% Upvoted

698 comments sorted by

View all comments

1.7k

u/Rrrrandle 1d 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.

313

u/Thatineweirdguy 1d ago

Thank you for a sane response.

33

u/adrr 1d ago

Did someone tell JPowell that?

148

u/ChaseballBat 1d ago

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

100

u/Tha_Sly_Fox 1d 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.

50

u/Rgarza05 1d 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.

14

u/Unfair_Inspection_59 1d ago

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

12

u/skoalbrother 1d ago

I hope he doesn't because MTG is his replacement

1

u/More-Ad-5003 1d ago

Is this real ? šŸ˜…

5

u/DickFineman73 1d ago

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

-9

u/fuckdonaldtrump7 1d ago edited 1d 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.

19

u/JayDub1565 1d ago

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

8

u/fuckdonaldtrump7 1d ago

Ahh I see his term was up under Biden. Apologies

-1

u/metalpig0 1d 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.