Compared to Taylor rule, according the to the Atlanta Fed Taylor rule utility.
Figure 1: Fed funds implied by Taylor rule. 3 ppts below current Fed funds rate is 1.33%, marked by x.
This graph highlights how much Mr. Trump’s views on monetary policy differs from those still in touch with reality.
Trump made his reality show appearance at the Federal Reserve today and it didn’t quite go as scripted. This is a thing of beauty as Powell fact checks Trump on his BS in real time in front of the cameras.
Trump claims that construction costs have increased from $2.7 billion to $3.1 billion. Powell shakes his head in disbelief. So Trump triumphantly pulls a folded paper out of his breast pocket that he just happened to have at hand for the scripted reality show confrontation.
But then the show goes off script as Powell pull out his reading glasses and studies the piece of paper for all of 5 seconds and points out that Trump is including costs for a project for a separate building that was completed five years ago. It has nothing to do with the current project.
Well, done Jerome. Oh, and three guesses who was president five years ago during this previous project.
https://bsky.app/profile/yasharali.bsky.social/post/3luqghihnxs2r
Biden? Obama? Hillary?
Did I guess?
On Tuesday Trump crowed that he had just received $16 million from Paramount in a settlement regarding CBS News. He also claimed he would be receiving an additional $20 million from Skydance. Paid to Trump personally.
On Thursday, the Trump administration announces their approval of the Paramount and Skydance merger.
They don’t even need to make even the barest hint of covering their tracks anymore. It’s just brown paper bags of cash delivered to the oval office for favors and nobody cares.
Trump announced that the deal had been approved, and Paramount signed a $1.5 billion deal to renew South Park. Then the first episode of the new season of South Park compares the felon-in-chief to Sadam Hussein, put him in bed with Satan, has Jesus warn South Park residents to avoid being cancelled like Colbert and runs an ad which shows a bloated felon collapsing in the desert, at which point his penis says “I approve of this ad”.
I’m not sure this Paramount deal is set in stone.
Who needs brown bags! We have press releases announcing the payoffs and kickbacks Trump and MAGA are receiving for granting favors of the power of the Federal Government! We are an authoritarian monarchy now and that is the new way things are done when the King’s word is the law and laws are undone at the King’s word. Collecting these payments thrill the MAGA cult vicariously as their leader, TFG, displays his dominance and makes all the Americans and foreigners bend the knee and pay the King if they want to do business with the Government or in the U.S.A.
personally, I would live to refinance my mortgage to 2%. where do I sign up? trump promised 2% mortgages during the election. he would never back down from a promise, would he (taco)?