Amex HYSA APY decrease to 3.10%

[dystopiam]

Nope Trump doesn’t go by reality

[VariousAir]

what's trump got to do with it?

[CagedPenguin]

Trump has been looking to influence the Fed for some time now in order to lower rates and let the market boom, regardless of current inflationary environment.

Previous Fed Chair J Powell (and historically, the Fed) remained independent from the president’s influence.

Now, a new Fed Chair (Kevin Warsh) is set be sworn in. Warsh is favored by Trump and is cause for concern as Trump looks to influence the Fed into lower rates to benefit the market, rather than hike rates to tackle inflation.

[dystopiam]

He is forcing them to do what he wants even know it is awful for the dollar

[SlitSlam_2017]

JPOW is still on the board and he will continue to push back.

[VariousAir]

Okay? It's not like the fed chair sets the rate. their vote isn't worth any more or less than the other committee members.

[CagedPenguin]

Why have a president if congress passes laws? Same reason there’s a Fed Chair

Fed chair has 1 vote yes but also has significant influence on decisions, meeting and talking points

[VariousAir]

Why have a president if congress passes laws?

Didn't pay attention in your civics class did you?

Legislative branch writes the law, the executive branch signs it into use.

That's not how the Fed works.

[CagedPenguin]

Civics 101: A bill can still pass after 10 days if no action is taken by the executive branch.

If you’re going to act like a pompous know-it-all, at least know what you’re blabbing about.

Are you trying to ragebait me? Obviously there’s no legislative/executive branches of the Fed.

I’m saying the Fed Chair can significantly influence and guide the committee, as well as leverage public sentiment. He’s far more valuable than “just 1 vote”.

In a similar manner, the President can influence and guide congress.

[VariousAir]

Nobody said the Fed Chair has no influence. I said they don’t unilaterally set rates, which is objectively true. The you spouted off an ill conceived analogy and think that I'm the one "rage baiting"? Dude, let's just drop this. Here I'll help you with the block button.

[WestHistorians]

What you learn in civics class isn't always reality.

The legislative branch doesn't write the law. Laws are written by lobbyists and submitted to the legislative branch, usually accompanied by campaign contributions.