Liberal Forum

Congressional Republicans might finally jump off the hamster wheel



He wants to prosecute Federal Reserve Chair Jerome H. Powell, his pretext being cost overruns on the remodeling of the Federal Reserve’s headquarters. This is one of Trump’s especially pointless tantrums, given that Powell’s term as chair ends May 15. Trump has, however, clarified the debate about the Fed’s “independence.” And he has perhaps finally provoked a Republican recoil against his ambitions to control everything, including interest rates. He seems to want them low, at every point of the business cycle, forever.


He wants to pack the Fed’s board of governors with compliant ciphers. So, if he nominates Kevin Hassett as Powell’s replacement, the Senate, which has much to make amends for (Pete Hegseth, Robert F. Kennedy Jr., Kristi Noem, Pam Bondi, Tulsi Gabbard, et al.), might rediscover its independence and reject Hassett....



The Peter Principle (from the 1969 book) is that people get promoted to their level of incompetence. Hassett, chair for two years of the Council of Economic Advisers in Trump’s first term, currently is Trump’s director of the National Economic Council. Hassett has developed a promiscuous, one-night-stand relationship with principles and facts.


Hassett predicted that Trump’s 2017 corporate tax cuts would produce a $4,000-$9,000 increase in average household incomes. That has not happened. Early in the pandemic, he predicted it would soon wane. It did not. Writer Steve Chapman, who calls Hassett “a master of opportunistic amnesia,” notes that no states had gas prices averaging as low as $2 when Hassett said prices are “below $2 a gallon in a lot of places.”



https://www.washingtonpost.com/opinions ... l-reserve/

Blackvegetable » 16 Jan 2026, 1:27 pm » wrote: ↑

16 Jan 2026, 1:27 pm

Congressional Republicans might finally jump off the hamster wheel



He wants to prosecute Federal Reserve Chair Jerome H. Powell, his pretext being cost overruns on the remodeling of the Federal Reserve’s headquarters. This is one of Trump’s especially pointless tantrums, given that Powell’s term as chair ends May 15. Trump has, however, clarified the debate about the Fed’s “independence.” And he has perhaps finally provoked a Republican recoil against his ambitions to control everything, including interest rates. He seems to want them low, at every point of the business cycle, forever.


He wants to pack the Fed’s board of governors with compliant ciphers. So, if he nominates Kevin Hassett as Powell’s replacement, the Senate, which has much to make amends for (Pete Hegseth, Robert F. Kennedy Jr., Kristi Noem, Pam Bondi, Tulsi Gabbard, et al.), might rediscover its independence and reject Hassett....



The Peter Principle (from the 1969 book) is that people get promoted to their level of incompetence. Hassett, chair for two years of the Council of Economic Advisers in Trump’s first term, currently is Trump’s director of the National Economic Council. Hassett has developed a promiscuous, one-night-stand relationship with principles and facts.


Hassett predicted that Trump’s 2017 corporate tax cuts would produce a $4,000-$9,000 increase in average household incomes. That has not happened. Early in the pandemic, he predicted it would soon wane. It did not. Writer Steve Chapman, who calls Hassett “a master of opportunistic amnesia,” notes that no states had gas prices averaging as low as $2 when Hassett said prices are “below $2 a gallon in a lot of places.”



https://www.washingtonpost.com/opinions ... l-reserve/

doing another hyperbole thread.

*31stArrival » 16 Jan 2026, 2:29 pm » wrote: ↑

16 Jan 2026, 2:29 pm

doing another hyperbole thread.

What makes it "hyperbole"?

Don't squander your opportunity. 
 

Blackvegetable » 16 Jan 2026, 2:53 pm » wrote: ↑

16 Jan 2026, 2:53 pm

What makes it "hyperbole"?

Don't squander your opportunity. 
 

I haven't yet.