r/wallstreetbets • u/abishop717 • 1d ago

Discussion 5 rate cuts 😮

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u/adrr 1d ago

Did someone tell JPowell that?

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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.

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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.

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u/JayDub1565 1d 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 1d ago

Ahh I see his term was up under Biden. Apologies