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Originally Posted by Patriam1066 [You must be logged in to view images. Log in or Register.]

Biden controls the fed? He started the purchasing program that began in 2020when trump was prez?

Interesting perspective guys, I’d suggest you take a high school government class though because clearly the Alabama education system didn’t serve you well

Yes, absolutely, Jay Powell was up for re-election two months ago and Biden had total control over him last year because Powell wants to keep his position as chair of the Federal Reserve.

Your sarcastic comment makes you look pretty dumb so I'll help you out on this one:

The goal of the Federal Reserve is to stabilize the dollar by keeping inflation low and steady and to keep employment at maximum. They commonly call this the dual mandate.

The dual mandate of the Federal Reserve was put in place because the US wants an economy where people are employed and prices of things are about the same. The money people at the Federal Reserve are supposed to handle that.

BUT WAIT! Joe Biden gets elected president and low and behold in the year 2021 the Federal Reserve comes up with a new mandate! Goodbye dual mandate.

What could the money people at the Federal Reserve possibly be tackling now you ask? CLIMATE CHANGE! So now the Federal Reserve's responsibilities are stabilize the dollar, keep employment up, and solve climate change.

Two weeks after the Federal Reserve announced they were going to help climate change Biden nominated Powell for a second term as chair of the Federal Reserve. He fucked with him a bit before that with Brainard but Brainard is vice chair. And two months ago Jay Powell's nomination got confirmed by the Senate and he is once again chair of the Federal Reserve. Feel free to write another post about how Joe Biden has zero control over the Federal Reserve you dumbass.