[TheRealThing]

Many economists do not support the idea of manipulating currency via a central bank. While I do feel some of the things the Fed has done over the years were okay, there is no question that they have caused a lot of problems too. People like Steve Forbes and Ron Paul would abolish the Fed without a second thought. And when as it happens nowadays, the stock market reacts with volatility upon every word the Fed Chairman happens to utter, I tend to line up with Steve and Ron.

Federal Reserve officials, love to come on TV to pontificate with un-reserved certainty, about the state of US financial fortunes near and far. They were on yesterday, and Chairman Jerome Powell was on today. One way or the other, these guys (The Fed) are either wittingly or unwittingly part of the resistance. Here is what I am saying. Presently, the Trump hating media approach their journalistic duties as if they were a bunch of B movie lawyers, trying by virtue of drama and false accusations to hang a bogus charge on an innocent man. In Trump's case the intent is make his financial policies seem shallow. So, along comes Jerome Powell today who somehow thinks he needs to give the world his considered opinion yet again. All this, while rabid liberals on the attack line up with their ample quiver of loaded questions. These questions are ALWAYS intended to make the President's financial successes look like they're either the temporary results of a sugar-high, or imperiled by some dark and looming economic crisis only they can see. Ironically, the 8 year long sugar-high, courtesy of Barack Obama, which made the addicted and dependent stock market of today was just fine with them though. The obvious contrast; everything Barack did was just fine while everything Donald Trump does is a evidently stupid or criminal.

And of course MR Powell is always more than forthcoming with the media, as he entertains every leading question to it's fullest. Today he got baited into stating that he has some concerns about the likelihood of a coming recession. Frankly owing to prophecy, I not only think at some point (relatively) soon we will see a recession, I think at some point (relatively) soon we are going to see complete global financial collapse. But the point is the Fed is no more in the driver's seat than anybody else. IMHO, they need to speak FAR less often. And they need to act FAR less often. But in this way Powell by choice or not, cavaliers off on these rants (for which he has no experience based resume BTW) and gives the rabid media exactly the ammunition they seek, with which they can impugn the Presidency of MR Trump.

AFTR, no matter what Chief Justice John Roberts says, these agencies including and especially the court are politicized. And the Fed under Barack Obama certainly was politicized. The 8 years of quantitative easing which saw the Fed print 3.7 Trillion dollars to pump into the economy, along with essentially zero interest rates on both loans and savings was not an independent action. It was however, demonstrably foolhardy policy which put everybody's 401's and pensions in Peril. Or have we already forgotten about the Kentucky Teacher's Pension Fund? Now along comes President Trump, who attempts despite the resistance, to reinitiate the sound and proven policy of the recent past, and the Fed suddenly feels compelled by the immediacy of the situation, to right the ship by manipulating via ever rising interest rates. It took 8 years to get into this economic hole, not 2. And yet in those 8 years there was no concern out of the 'informed' media whatever. But the same media are a virtual pack of dogs these days, and ol Jerome is bent for leather to get us back to tacks in just 2 years. How about giving us time to catch our economic breath, and let US manufacturing and other business concerns have the luxury of enough time to get back on their feet?

The Fed is not nor has it ever been independent. Though there have been many Presidents like Donald J Trump for example, who did not overly abuse their position to influence the Fed. Woodrow Wilson used it to implement his own agenda when he signed the Federal Reserve Act into law in 1913, and you'll never convince me Barack didn't abuse his power over the Fed in epic fashion to make his record look much better than is actually was. But if the Fed can get over itself for a few years, the economy might actually pay back so to speak, the 4 Trillion dollar check Barack wrote on the future of the US taxpayer.