Jerome Powell’s Policy Errors Continue

Jerome Powell's Policy Errors Continue

Jerome Powell has only taken 2 freshman courses in economics. He is completely unqualified to be fed chair. This is in deep contrast to many other fed chairs, who traditionally have a bachelors and/or 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. (Source)

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

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program. (Source)

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

Welcome to the Superprime Banking Crisis – WSJ. (Source)

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

Chart of mounting excess deaths reaching 20 million+. (Source)

In Dec., Fed Chair Powell said COVID accounted for a large chunk of the labor shortage. In Feb., Powell did a 180, announcing that the Fed would end its public health readings, stating that COVID “is no longer playing an important role in our economy. (Source)

Other central banks, such as Spain, are not on the same page as Jerome Powell, reducing confidence and raising questions about corruption as the fed chair shows disconnect from reality.

Spain's central bank warned yesterday that the Spanish population is sicker than ever with record hours of work lost and they say it is “in line with the predictions about covid sequalae.”. (Source)

Jerome Powell bailed out SBV because of systematic risk, after claiming the bank posed no systematic risk when he 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. (Source)

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. (Source)

We are now finding out Jerome powell lied to the American people and said the people should assume their deposits are safe, slashing confidence in the fed leader even further when Janet Yellen quickly corrected that with the truth.

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

Jerome Powell 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 nearly 200 banks face the same risk as SVB of depositor runs.

According to the Wall Street Journal, nearly 200 banks are still facing the same issues as SVB. (Source)