It’s always a bit difficult to know what to make of the undercover videos James O’Keefe and other samizdat reporters are able to record.
Not that I doubt the genuine nature of the recordings. They certainly appear to be legitimate, and it would be almost impossible to fake them.
No, the problem is that the idiots who spill their guts to James and his investigative citizen reporters are self-absorbed idiots desperately trying to get into the pants of the reporters, and it’s hard to distinguish between braggadocio and the real truth behind their words.
BREAKING, INSIDE THE FEDERAL RESERVE: Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not… pic.twitter.com/5CqZX2LhwT
— James O’Keefe (@JamesOKeefeIII) April 10, 2024
That said, investigative reports are extremely useful for a number of reasons. First of all, they could be entirely accurate, with people dumping out the truth to a confidante. Second, they definitely tell you what these people think—if their bragging is just wish fulfillment, it still provides a window into their soul and into the thinking of people they associate with.
You wouldn’t say this stuff unless you thought it would appeal to the listener. So if they are liars or exaggerators, they clearly think these lies make them look good. A Pfizer manager saying that the company is doing what amounts to gain-of-function research to get into bed with someone tells you what they think sounds good.
As for the claim that Jerome Powell wanted Trump gone? That is perfectly plausible since it is true of every swamp creature in Washington.
Much of what Aurel Hizmo, Principal Economist at the Federal Reserve, says is plainly true. The Fed has gone woke and is all in on the Leftist agenda, including the CBDC. “Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change,” Hizmo said.
Yep. All that price stability stuff? How is that working for us?
Hizmo’s LinkedIn account is down, and it’s hard to see how he stays working at the Fed. But his departure will mean nothing because the Fed and Washington DC culture won’t change one iota. The Fed will do what the Fed will do.
The Fed is currently embroiled in a massive DEI scandal, with one of its Governors being exposed as a serial plagiarist and basically a fake economist. Her specialty? Equity.
DEI: In another case of ‘Didn’t Earn It’ Biden-appointed Federal Reserve Board member Lisa DeNell Cook’s entire academic career has been found to be fraudulent. From faking research data, to outright plagiarism, to lying on her resume – Cook is in charge of our monetary policy. https://t.co/GDOaE4jhxE pic.twitter.com/QDEnxarIwC
— @amuse (@amuse) April 11, 2024
Who doubts that Powell and the Fed would love to stand in Trump’s way? Not I.
But to be honest, I would love to see actual evidence that Powell used his position to harm Trump. He may have used his influence with others, but did Fed policy change to harm Trump? I don’t see it, but I don’t focus on Federal Reserve policy, so I would love to hear an economist’s opinion.
Powell certainly didn’t tank the economy. That doesn’t mean that he didn’t whisper sweet nothings to influential people, which in his case matters a lot, but I don’t know of evidence that monetary policy was adjusted to harm Trump. The economy did well until 2020, and in 2020, Powell dropped money out of helicopters.
No. So far, I see a Fed economist—a powerful one—who has Trump Derangement Syndrome and wants to impress somebody with his power and proximity to the king.
What’s happening at the Fed is bad enough. No doubt the Board of Governors and the analysts hate Trump and would love to harm him. But did they alter policy?
I’d love to see more evidence.
Read the full article here
