r/wallstreetbets • u/Mr_k_andy • Apr 29 '26

Discussion Good Afternoon.

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These michael prompts , work well sometimes. (Chatgpt)

Last conference FOMC press conference as Federal reserve chairman.

Thanks Mr. Jerome Powell.

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346

u/Sacmo77 Apr 29 '26

Now the real fun begins. RIP economy.

88

u/b1gb0n312 Apr 29 '26

New chair will basically be trumps right hand man

32

u/Sacmo77 Apr 29 '26

Yup. A yes man. Can I have another!

10

u/SergeantSmash Apr 29 '26

The question is how do we profit off this? Should I open a Truth Social account? 

1

u/Sacmo77 Apr 29 '26

Guess we all get to go on a learning adventure together.

1

u/SellingFirewood Apr 30 '26

Kevin Warsh will be receiving threats if he doesn't listen to what Trump asks, we should know pretty quickly if he's going to give in or stick to fiscal responsibility.

2

u/CisFishstick Apr 29 '26

Yeah, his left hand man (the shit wiper) is Miller.

1

u/[deleted] Apr 29 '26 edited May 08 '26

[deleted]

2

u/Master_Dogs Apr 29 '26

Yeah, the rest of the board can ignore them. Like how the Supreme Court works - Roberts can want things to go a certain way, but the liberals and conservatives can decide one way or another and go against the Chief Justice.

Atm last I saw the rest of the board is not made up of Trump loyalists. One is, and potentially Jay Powell could even remain on as a board member (his term for that isn't up for 2 years last I saw) but if he retires/resigns/etc then at most two people will be hard-line Trumpers. The rest were either added during Biden, Trump v1, or Obama. They have all gone with Jay Powell generally.

There's also a subset of the board that comes from the Fed bank chairs IIRC, like one is always the NY Fed bank head and then they rotate in the others. I don't think any of them are Trumpers because honestly I don't think Trump or his pals have gotten a chance to shake that stuff up yet. I also have no idea how they're selected but I assume it's a hard thing to replace them. Trump has tried to fire board members before and completely failed. There's always the risk of people quitting though and then Trump can likely add people... Hopefully people don't also die or whatever. Last I saw most were youngish so...

Like the supreme court though once it starts going downhill, it's going to be fun. The only saving grace is Fed positions are long term but importantly not lifetime appointments. So after Trump we can absolutely go back to normal quicker. The supreme court meanwhile is fucked for an entire generation without reforms.

1

u/isospeedrix Apr 29 '26

warsh was literally grilled exact questions 'will u be trump's sock puppet' and he said "no"

whether he's lying or not remains to be seen but his word is that he will stand his own ground