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Remarkable_World_351 t1_j6itby4 wrote

Reply to comment by Ok_Edge_1486 in Recession concerns overtake inflation concerns by Infamous_Sympathy_91

Biden (or any sitting president) has absolutely zero to do with interest rates

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Ok_Edge_1486 t1_j6itvxt wrote

You're forgetting the fact that the president has the complete right to hire and fire Federal Reserve Chairmen. In a way, the will of the President is executed through the chairmen. Of course I don't think Biden cares at all about the stock market and is more concerned with increasing wage gains and increasing jobs.

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Hacking_the_Gibson t1_j6krxdf wrote

The Fed chair serves at the pleasure of the Senate, not the POTUS.

That’s why Donnie going on Twitter complaining that Powell was raising rates in 2018 was so unprecedented.

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neg_meat_popsicle t1_j6ixnac wrote

What about inflation? Do you agree that higher energy costs cause inflation?

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MoneyForPussy t1_j6j6ndo wrote

higher energy cost should result in lower energy consumption as service gets shut off due to nonpayment at some point

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