And just as inflation was down to a level where the Fed would be comfortable enough to start cutting rates, this administration came into foil all of that. Even if you really believe in these policies, which is highly controversial, one has to wonder why they timed it so soon basically forcing the Fed into a corner. It's as if this administration has a mandate to destroy the US economy.
Assuming independent, the Fed responsibility of lower inflation is higher than employment. They might tolerate some inflation for employment but we can only tell after the effects of tariffs kick in and we see the new inflation numbers.
They're going to weigh what they think is the greatest risk overall and tackle that if they have a high-unemployment high-inflation environment. That won't mean cutting rates in all cases.
We can dispense with polite formulations under current circumstances.
One would have to be a moron or literally mentally ill to "believe in these policies,"
either having no understanding, or, having invested in some delusional confabulated make believe universe where the fundamental order of our civilization is collectively reworked (including by enemies and competitors at every scale) in a context of rapidly degrading climate, to suit your ideology.
I mistakenly assumed Scott Bessent knew better and would do better, given his financial markets experience.
From Wikipedia: “He was hired by Soros Fund Management, eventually becoming the head of its London office. In this role, in September 1992, he was a leading member of the group that profited by $1 billion on Black Wednesday, the British Pound sterling crisis.”
> One would have to be a moron or literally mentally ill to "believe in these policies,"
Playing devils advocate, I think most people thought the incoming tariffs were going to be a lot smaller, also maybe assumed there would be an industrial policy.
Those people should have probably paid attention to the clown parade of 2016-2020, with the administration's revolving door of one incompetent person being brought in after another (many of them getting fired, and a bunch of others went to prison).
Followed by 2021-2024, where all the adults in the room were talking to the press, explaining how hard they had to work to convince Trump why he shouldn't carry out his worst ideas.
Followed by all of those people getting fired in January of 2025, and replaced by lickspittles, sycophants, and other flavors of yes-men.
There's no way that someone who surrounds himself with the kind of cabinet that he does, or reacts to criticism and feedback the way he does is going to be making good decisions.
> should have probably paid attention to the clown parade of 2016-2020
For what it's worth, the economy grew under Trump 1.0. This second one is just not making decisions himself, with policy noticeably varying based on who is physically around him [1].
I won't be surprised to learn in a few years that he's being stage managed as tightly as Biden was in his final months in office.
The fact that this comment is even showing up on HN is a testament to how far gone the U.S. populace is lol.
U.S. economy had the best standing of any other economy thanks directly to the policies set forth by the fed-res, yet this guy thinks they were trying to engineer the exact opposite outcome that happened.
Like a doctor giving a patient medicine, the patient being cured, and the patient then claiming "I didn't need the medicine you were just trying to kill me all along!"
Truly incredible.
We are not a serious country anymore, if we ever were.
The amount MAGA apologists spouting off bs on HN in the last 2 years has been disappointing. I've been on HN for about 8 years now and lately the pervasive brain rot has made a home even here. Truly disappointing.
It's not brain rot, it's populist messaging doing what it does. Trump built a foundation in people's minds on emotional appeals. He drew a picture of a country under attack, and one only He can reverse course on. Through careful messaging and constantly appealing to the lowest common denominator, He has made himself a God. And, as such, his supporters are nothing more than believers. What they lack in evidence or reasoning they more than make up for in blind faith.
Sure but how is blindly following an ignorant buffoon not a clear indication of brain rot? You'd expect people would be more able to see through his constant lying, severe ineptitude and other bs but apparently there is no use of critical thinking going on within his cult
There never was rampant inflation (in the sense of the term of expanding money supply). It was all driven by the increased prices supply shock driven "inflation". The solution to high prices ("inflation") is high prices, not increased interest rates.
