Economic News - Trump's DOJ launches criminal investigation of Fed Chair Jerome Powell

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Even Donald Trump gets it right sometimes | Opinion

Trump's threat to rein in Wall Street's squeeze on the housing market is a good thing.
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““It is rare to find a policy idea floated by President Donald Trump that merits genuine praise. But intellectual honesty requires giving credit when it is due, even when it comes from a political adversary.
This week, Trump announced on social media that his administration is moving to ban Wall Street firms from purchasing single-family homes. It is a striking proposal, and a long-overdue one. If implemented, it would represent one of the most meaningful interventions in the housing market in decades.”
 
Callatoroy said:
www.newsweek.com

Even Donald Trump gets it right sometimes | Opinion

Trump's threat to rein in Wall Street's squeeze on the housing market is a good thing.
www.newsweek.com www.newsweek.com

““It is rare to find a policy idea floated by President Donald Trump that merits genuine praise. But intellectual honesty requires giving credit when it is due, even when it comes from a political adversary.
This week, Trump announced on social media that his administration is moving to ban Wall Street firms from purchasing single-family homes. It is a striking proposal, and a long-overdue one. If implemented, it would represent one of the most meaningful interventions in the housing market in decades.”
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I agree something like this would be helpful for people trying to enter the market. It will also have some negative consequences, of course, and I’m not sure how Trump has the power to do that unilaterally, but stricter regulation of the corporatization of America’s housing supply is a real need, and one Biden’s team should have jumped on early in his term.
 
lawtig02 said:
I agree something like this would be helpful for people trying to enter the market. It will also have some negative consequences, of course, and I’m not sure how Trump has the power to do that unilaterally, but stricter regulation of the corporatization of America’s housing supply is a real need, and one Biden’s team should have jumped on early in his term.
Click to expand...
It can very easily lead to some negative consequences. It’s an issue that has to be addressed from both an affordability and supply standpoint or it can make things worse.
 
Callatoroy said:
www.newsweek.com

Even Donald Trump gets it right sometimes | Opinion

Trump's threat to rein in Wall Street's squeeze on the housing market is a good thing.
www.newsweek.com www.newsweek.com

““It is rare to find a policy idea floated by President Donald Trump that merits genuine praise. But intellectual honesty requires giving credit when it is due, even when it comes from a political adversary.
This week, Trump announced on social media that his administration is moving to ban Wall Street firms from purchasing single-family homes. It is a striking proposal, and a long-overdue one. If implemented, it would represent one of the most meaningful interventions in the housing market in decades.”
Click to expand...
I can get behind this. I am sure there are some nuances that will need to be worked out, but overall a positive development.
A good example of Washington exerting limited governance where appropriate.
 
Trump has no power to do that unilaterally. If the government has authority at all, it would have to be by means of a regulation promulgated by the appropriate federal agency pursuant to notice and comment rulemaking.
 
And just think - Powell's term as Fed Chair ends this year, and Trump will get to pick his replacement with a GOP-controlled Senate that has so far rolled over for 90% or more of what he's wanted to do. By this time next year we may be listening to pronouncements from new Fed Chair Stuart Varney or Mike Lindell.
 
Looks like Trump is finally starting to realize you can't just lie about the economy being strong without some actual real-world results to back it up. He's going to try to gain control of the Fed just in time to artificially juice the economy before the mid-terms. The man is incapable of ever playing anything straight.
 
Senator Thom Tillis, Republican of North Carolina, vowed to oppose the confirmation of any nominee for the Fed, including any coming chair vacancy, citing reports of subpoenas. “If there were any remaining doubt whether advisers within the Trump administration are actively pushing to end the independence of the Federal Reserve, there should now be none,” he said in a statement. “It is now the independence and credibility of the Department of Justice that are in question.”

 
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