Powell: Political Hack, and Stupid, Too!!

Y'all know that Jerome Powell squashed interest rates while Mashed Potato Brain the Autopen was President.  And as soon as Trump assumed office, Powell jacked up the rates and will not back down.

OK, Jerome.  Let's talk about buildings.  Childers has the story: 

 ...The latest battle has waged over the Fed’s $2.5 billion dollar “renovation” of its headquarters temple, a tone-deaf, gold-lined construction project defying the nation’s mood and Washington’s vast debt.

Trump, who knows the smell of a rigged construction budget like a bloodhound on a contractor’s trail, isn’t buying it. He publicly accused Powell of greenlighting a runaway $3.1 billion boondoggle. Powell, clutching his tie like a scolded intern, gushed that it was only $2.5 billion— plus some different building that was finished years ago.

Jerome stepped right into the trap.

The “other building” Powell used to defend himself was the Fed’s last multi-million-dollar indulgence, completed about five years ago. It was the Martin Building, a.k.a. the William McChesney Martin Jr. Federal Reserve Board Building, which underwent a similarly tone-deaf $350+ million overhaul starting in 2014 and completed in 2021.

So when Powell told Trump that the $3.1 billion figure includes a “separate building” already finished, he referred to that previous round of central planning vanity construction. Which was undoubtedly exactly what Trump wanted him to say.

In other words, how many palatial headquarters does the Fed need?

Trump plays with those dummies like a cat with a mouse.  Powell hung himself with two palaces; Obama & Co. hung themselves with documents they didn't have the brains to destroy.  Europe is hanging itself by clinging--desperately--to US consumer dollars.

The world is changing right in front of their eyes and they still don't know it.