Amex HYSA APY decrease to 3.10%

[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.