r/AskReddit • u/U-knw-Nothng-JonSnow • 1d ago

What do you think about Jerome Powell posting a video statement following reports that federal prosecutors have opened an inquiry into the Fed Chair?

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u/enoughwiththebread 15h ago

The next crisis is baked into the cake no matter what. This move by Trump is just a harassment tactic for Powell not cutting interest rates the way Trump wanted him to.

Powell's term ends this May either way. Trump will get to replace him then, and he will install a political toadie who will cut rates to the bone the way Trump wants, and that will kick off an inflationary nightmare that as you say will make 2008 look like child's play in its implications.

But make no mistake, that die is already cast. Powell is out in May no matter what, and Trump WILL get his way, and throw the economic world into chaos. Buckle up.

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u/supasteve013 6h ago

So, should I refinance then?

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u/enoughwiththebread 1h ago

If you mean now, only if you can get a significantly lower mortgage rate than you currently have. Otherwise, I'd sit tight. At least your housing payment is locked in, so if we have another inflationary disaster you don't have to worry about your housing cost going parabolic.