Jerome Powell’s 2 Freshman Courses In Economics Comes To Bite As Nation Faces Banking Crisis

Jerome Powell's 2 Freshman Courses In Economics Comes To Bite As Nation Faces Banking Crisis

Jerome Powell has only taken 2 freshman courses in economics. He is completely unqualified to be fed chair. This is in deep contrast to Alan Greenspan, who has a masters in economics.

Did you take Economics 101 in Princeton, and do you remember who taught it to you way back then?

Jerome Powell: (03:44)
I did. Burton Malkiel taught it. I took a Micro and Macro as a matter of fact, my freshman year, those were the only Econ courses I took though.

https://www.rev.com/blog/transcripts/fed-chairman-jerome-powell-princeton-online-forum-transcript

Jerome Powell had made so many policy errors he is in the running for the worst fed chair of all time. The first was cutting rates go nearly zero at the start of the pandemic.

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html

After that, he raised rates the fastest in history causing a banking crises, resulting in the collapse of SBV, Signature, Credit Suisse and more to come.

https://www.wsj.com/articles/welcome-to-the-superprime-banking-crisis-9ab6b6d2

The policy errors continue as he claimed covid was over when it is at the root of many supply chain issues and inflation issues. Excess deaths continue to mount.

https://ourworldindata.org/explorers/coronavirus-data-explorer?zoomToSelection=true&time=2020-03-01..latest&uniformYAxis=0&pickerSort=desc&pickerMetric=new_cases_per_million&Metric=Excess+mortality+%28estimates%29&Interval=Cumulative&Relative+to+Population=false&Color+by+test+positivity=false&country=~OWID_WRL

https://twitter.com/cygnus_321/status/1638580433976795138?t=3PlsG2bcLT1NrlRK34QIgg&s=19

Fourth, He bailed out SBV because of systematic risk, after claiming the bank posed no systematic risk when approved a merger.

NEWS: Documents reviewed by @LeverNews show Jerome Powell recently approved SBV’s merger by insisting the bank posed no big risk to the financial system.

On Sunday, he justified protecting SBV’s rich depositors by insisting the bank posed a systemic risk.

https://twitter.com/davidsirota/status/1636211356407062529?t=fzfAgefk1bY72u2DRg1oTg&s=19

The corruption continues as Jerome Powell will now be the one that reviews his own errors.

“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” Fed Chair Jerome Powell has said.

https://twitter.com/michaelsderby/status/1635371445609189376?s=20

We are not finding out Jerome powell lied to the American people and said the government would cover all uninsured deposits, slashing confidence in the fed leader even further.

US TREASURY SECRETARY YELLEN: WE ARE NOT CONSIDERING INSURING ALL UNINSURED BANK DEPOSITS.

https://twitter.com/financialjuice/status/1638616278716825600?t=KaG09jFNFE14BpZCqq5SbA&s=19

We must act now to remove this clown from power. He has policy errored time and time again. He has little to no educational experience in economics. We are now paying for this shit show in real time as banks have 1.7 trillion in unrealized losses.