The White House is claiming that Federal Reserve Chairman Jerome Powell is willing to leave the central bank’s Board of Governors after his term expires, although Powell has never made any public comment to support that notion.
In an interview this morning on Fox Business News, Kevin Hassett, the director of the National Economic Council claimed Powell will depart when Kevin Warsh, the president’s choice to become the next Fed chairman, takes over the job.
“He’s really signaled that once there’s a confirmed head chair, that he’ll step aside, and that’s the appropriate thing for him to do,” Hassett said.
However, Hassett’s statement contradicts earlier statements by Powell who said he would remain at the Fed until a criminal investigation against him US Attorney Jeanine Pirro is over. Powell’s chairmanship ended in May, but he still has two years left on his term as a Fed governor.
The investigation, which focuses on whether Powell committed perjury last summer in a Senate hearing on cost overruns connected to renovations at the Fed headquarters, is in limbo. A federal judge has blocked Pirro’s office from issuing subpoenas to Powell and the Fed, but Pirro’s office insists it will appeal the judge’s ruling.
This is not the first time that the White House offered claims about Powell’s departure. Last summer, Bill Pulte, the director of the Federal Housing Finance Agency, tried to push the story that Powell was considering resignation. That turned out to be a lie.
The probe into Powell could also derail the Warsh nomination, with Republican Sen. Thom Tillis repeatedly stating he would block Warsh while Powell was still under investigation. Hassett stated he had not spoken to Tillis regarding the Warsh confirmation.
But Hassett insisted Warsh was on target for confirmation.
“I’m highly confident that that will happen,” he said, adding a confirmation a hearing for Warsh could begin as early as next week.
The Trump Administration bullshit and lies continue while we in real estate pay the price of incompetence.
While I am doing well, I see many real estate agents and their clients who are really struggling in this market.
What has the Trump Administration done for us lately:
Caused increased economic uncertainty leading to buyer inaction in purchasing homes (sales down).
Increased prices of everything that goes into home construction (home prices up causing sales to go down).
Caused increased interest rates causing homes to be less affordable (causing sales to go down).
Driven the stock market down causing decreased buyer liquidity and optimism (causing sales to go down).
If you are in real estate, how can you support this Administration as they destroy our industry, our livelihood, our economy and our country.
100%
Anyone that has witnessed what’s come out of Trump’s mouth and posts should realize he’s not concerned about much that doesn’t gratify him or his family interests. He’s broken almost every norm to turn the White House into another Casino that strokes his ego and receives lavish praise from his minions. He doesn’t
care about people or their problems unless he can profit from their misery .
Fortunately this won’t go on forever and the real estate industry will survive.
Don’t expect the Calvary to come anytime soon unless he can personally benefit and put his name on it!
AGREE 💯 % with all of these comments.
I understand the frustration behind the previous comments, as I, too, would like to see the real estate market move in a positive direction again for all concerned: sellers, buyers, realtors, title companies, lenders… However, I feel saddened that the writers of the comments do not have the wisdom to separate true facts from misinformation, or the compassion to understand the plight of the truly oppressed. The war with Iran, while “inconvenient’, as war always is, is absolutely necessary to help give the Iranian people a chance at freedom. It is also a crucial step to ending a terrorist regime that has held the world hostage & inflicted horrible suffering born out of hatred for others. Personally, I thank God for giving President Trump the instinct, the intelligent vision, and the guts to finally do something about this evil, not only for the USA, but for the world, at large. This will be a victory for humanity!
You must have missed his threat of genocide. Sure doesn’t sound like freedom for the Iranian people. This is not our war. This is not America First as was promised. We have money for Israel, but not for the American people. Makes no sense. A lot of his statements/lies are right out of his own social media and propagandist cheerleaders. Mostly false and easily verifiable. I too am saddened by the misinformation from certain news entertainment channels. I do not watch corporate owned outlets as they have their own agenda. Too many capitulate to Trump. There are better news outlets outside the country that are not beholden to him. Personally, I see a man battling dementia (I’ve personally seen this behavior before), who cannot possibly possess instinct and vision. The proof is the state of our economy and this self declared war.
Amen. Everyone else here who echo the media’s talking points really have no idea what they are saying because they too have this psychological illness known as Trum Derangement Syndrome. It is real and can be observed everywhere every day. It’s as if they have never met a Persian who despises the regime that murders their own people for wanting that freedom. Or never met a Cuban that desperately wants the same change in Cuba! No one remembers the red/ green alliance that toppled Iran. The communists uniting with the hardline Islamists. This is what is happening here in the US with the useful fool college students espousing communist ideology and defending hardline Islamists supported by the ‘liberal’ majority media. Right under your noses! History does repeat itself, especially if you don’t know it. So all those who are ‘anti-Trump are essentially pro-communist and don’t even know it. It’s not that there isn’t some sense to what these other commenters are saying here, it’s that they have been blinded by a larger, more complex motive being obscured by highly sophisticated political propaganda.
Trump is a joke, and he’s using every government agency to personally attack perceived enemies. He has made the US not only a laughingstock on the world stage, but a pariah. Especially in light of his recent genocidal threats. He has the maturity of a 5 year old spoiled brat. Trump cares for nothing except lining his pockets and protecting his fragile ego! He’s grossly incompetent as is obvious from how he has effed up everything he touches. I hate him with every fiber of my being. He embodies every type of immorality- racism, greed, violence, love of power, oppression of the weak and poor. He’s a filthy dog and needs to be removed before he destroys the country that once stood for freedom and exceptionalism.
I agree wholeheartedly with the first and the last statements that I just read! Trump is an extremist despot who needs removal immediately.
Someone should make this happen.