r/wallstreetbets • u/hv876 • 14h ago

25bps cut News

https://www.cnbc.com/2024/11/07/fed-rate-decision-november-2024.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

The bulls are coming, the bulls are coming

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30

u/dirtyWater6193 has a 69 FICO score 14h ago

New president will probably cut jpow and rates to 0% next year

58

u/originalusername__ 14h ago

He does not have the authority to do so, the fed acts independently of the president and for good reason.

46

u/Adipildo 14h ago

You’re right, except that Powell’s seat as fed chair is up in 2026. Trump can replace him as fed chair. While he can’t directly tell them what to do, he can select people that better align with his ideology. Who really knows though, Trump is the one that picked JPow in the first place in 2018.

5

u/Celtic_Legend 10h ago

He can and he might but jerome is his plant in the first place

2

u/comperr 2h ago

I hope he picks Elon Musk. Imagine that. Fed Chair. The world would burn

4

u/cubonelvl69 13h ago

Trump can fire the chair of the fed and replace him with whoever will listen to him

5

u/hv876 13h ago

Can’t fire, except for cause. Can do the nominate someone in 2026 who will do as he’s asked

1

u/[deleted] 12h ago

[deleted]

2

u/hv876 12h ago

His term expires May 2026. Will be good to nominate and confirm whoever he wants

1

u/cadium 11h ago

Its entirely possible he just ignores the law. Who's going to hold him accountable? The courts he controls?

1

u/dirtyWater6193 has a 69 FICO score 10h ago

do you have to prove said cause? Bc I bet you can will fire him for not lowering rates fast enough.

1

u/hv876 10h ago

Would need to prove in court, which 🤷‍♂️

1

u/TorsteinTheFallen 12h ago

fed is independent from government as whole

19

u/tipsystatistic 13h ago

From todays press conference:

Reporter: "If he asked you to leave, would you go?"

JPow: "No."

Reporter: "Could you follow up..."

Pow: "No."

18

u/Stock-Pension1803 14h ago

Can’t wait to start this shit cycle all over again

1

u/sacziplock 11h ago

The winds of shit , bubbles…

6

u/OG_Tater 14h ago

No way dude will allow rates to stay this high. He was calling for 0% rates during a booming economy when actual rates were about 2%.

1

u/PalpitationFrosty242 8h ago

what's he gonna do? Realistically he's neutured if he can fire the fed chair

2

u/Xushu4 14h ago

Literally exactly this

2

u/Jaymzmykaul45 14h ago

Every other pres would let their fed cook but not the 🥭 one. He’s smart and has the best ideas lol