Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
pmbug said:TRUMP: Halt! Hallo! Hallo!
FEDERAL RESERVE RECEPTIONIST: 'Allo! Who is zis?
TRUMP: It is President Trump, and these are the Members of the Presidential Cabinet. Who's castle is this?
FEDERAL RESERVE RECEPTIONIST: This is the castle of Our Master Jerome de lu la Powell (sp?)
TRUMP: Go and tell your master that we have been charged by God with a sacred quest. If he will lower interest rates for the term he can join us in our quest for the Holy Grail.
FEDERAL RESERVE RECEPTIONIST: Well, I'll ask him, but I don't think he'll be very keen... Uh, he's already got one, you see?
TRUMP: What?
BESSENT: He says they've already got one!
TRUMP: Are you sure he's got one?
FEDERAL RESERVE RECEPTIONIST: Oh, yes, it's very nice-a [To Other Federal Reserve employees] I told him we already got one.
Why is he begging so hard? Seriously...T heading to the Fed today. First time in 20 years this has happened.
If that happens they might as well end the Fed, whole point of the Fed was it was supposed to be independent...no chance in hell of that, Ron Paul being appointed first has better chance.Powell will resign or get fired before his term ends mark my words. There will also be a new FED accord where they take orders from the US Treasury.
- T snaps, verbally cremates P
Did you know that 1/3 of all the prices used to calculate that 2.7% inflation number were merely estimates, not the actual prices?Trump gets bad news on inflation
Inflation accelerated during June, coming in at 2.7 percent for the month, the highest reading since February, according to the U.S. Bureau of Labor Statistics. May's inflation was 2.4 percent.
The acceleration in the CPI reading is bad news for U.S. President Donald Trump, who is pushing for the Federal Reserve to cut interest rates and stimulate the economy.
The Fed's Board of Governors has so far resisted cutting rates to see how Trump's tariffs affect prices, concerned that summer would see a spike in inflation.
Its target range is currently 4.25 percent to 4.50 percent after it was last cut by 25 basis points in December 2024. The Fed has a dual mandate to maintain full employment and stable prices.
More:
https://www.msn.com/en-us/money/mar...ews-on-inflation/ar-AA1IDTck?ocid=socialshare
That's what Powell shoulda done 3 and a half years ago instead of having played softball with it due to Joe and the dems having the power.Thing is there are 7 votes and at BEST Trump gets two...Trump knows this. This person resigning was already voting Trump's way.
Raise the rates, crush inflation.
Then you want what's bad for our nation.Please raise rates to 6%, I want to see Trump shit his pants...
Then Congress needs to make $2T in cuts this year.No Joe, I want America to pay off its national debt and balance the budget..no more living on credit. If we demand the kiddies pay off their Student Loans, we should lead by example.
No Joe, I want America to pay off its national debt and balance the budget..no more living on credit. If we demand the kiddies pay off their Student Loans, we should lead by example.
At this point I'd rather "Crash and burn" here...stick the proverbial gun to the head and start the fight now.Then Congress needs to make $2T in cuts this year.
They won't do that though, so all we can do is try to make ends meet as best as we can.
If Trump can get the things I listed accomplished, the $2T gap will be substantially smaller.
Gotta close the gap before any talk of actually paying down the debt.