I'm sure Powell is a very nice man, and I have no issue with the idea that the other leaders aren't such great people.
But, I actually think in an ironic twist Powell's tenure may have had the most damaging effects on the US of any of these people. In my worldview, the Fed's interest rate policy was one of the main catalysts in the US shift toward extreme polarization and authoritarianism (on both sides, honestly).
I realize Powell wasn't alone in promoting this, and a lot of blame goes to Yellen, Bernanke and Greenspan. But, as a member of the Fed board since 2012, I think he's presided over the last best chance to change course and avoid a debt bomb.
Back in 2012-2016, I believe the Fed could have allowed a recession and solved a lot of the problems we now face. Same goes for 2020 (which I view as a fake recession). Fast forward to 2026, I'm not actually sure there's a way out.
HNers like to think they are experts on monetary policy. It reminds me of the average (astro)physics HN thread. A bunch of laymen talking with authority.
Exactly. One defining thing about the current administration is the view that Main Street matters, not Wall Street. Whether their actions match is one thing (it doesnt always when the market throws a wobble) but the surface level optics of the intention is always there. Its the sleight of hand of blaming faceless boogeymen for their base. Powell falls exactly in to that. Wall St knows him but, without trying to be condescending, most of the general population I think would have no idea.
I'm sure Powell is a very nice man, and I have no issue with the idea that the other leaders aren't such great people.
But, I actually think in an ironic twist Powell's tenure may have had the most damaging effects on the US of any of these people. In my worldview, the Fed's interest rate policy was one of the main catalysts in the US shift toward extreme polarization and authoritarianism (on both sides, honestly).
I realize Powell wasn't alone in promoting this, and a lot of blame goes to Yellen, Bernanke and Greenspan. But, as a member of the Fed board since 2012, I think he's presided over the last best chance to change course and avoid a debt bomb.
Back in 2012-2016, I believe the Fed could have allowed a recession and solved a lot of the problems we now face. Same goes for 2020 (which I view as a fake recession). Fast forward to 2026, I'm not actually sure there's a way out.
Can you elaborate on how a recession would have solved things?
HNers like to think they are experts on monetary policy. It reminds me of the average (astro)physics HN thread. A bunch of laymen talking with authority.
What is the percentage of US adults who even know who Jerome Powell is?
If only a tiny minority of surveyed adults knew, then I really doubt whether the poll tells us anything useful.
I think that these polls mostly tell us that:
- Trump is polarizing and unpopular
- Congress is always unpopular
- the Supreme Court is popular or unpopular based on how recently they ruled for/against an issue that the respondent is passionate about
- for people in politics, the less well known you are, the less unpopular you are
Exactly. One defining thing about the current administration is the view that Main Street matters, not Wall Street. Whether their actions match is one thing (it doesnt always when the market throws a wobble) but the surface level optics of the intention is always there. Its the sleight of hand of blaming faceless boogeymen for their base. Powell falls exactly in to that. Wall St knows him but, without trying to be condescending, most of the general population I think would have no idea.
Probably think its Colin Powell.
More or less the same as the percentage of US adults who know the name of their country begins with the letter 'U'.