Quote:
Originally Posted by joshgun
Trump will replace Powell next year with someone who will drastically cut interest rates. Prices(inflation) will soar we will soar. We will be in a recession by 2027.
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You can replace the Fed chairman, but he or she still has only one vote on the board of 12 members. The chairman or woman merely announces the vote by the Fed to either raise , maintain or lower rates. No chairman has ever gone around the wishes and votes of the Fed. They are mostly the spokesperson for the group.
Where some get their misinformation about the Fed is beyond me.