this post was submitted on 21 Apr 2025
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https://archive.is/2025.04.19-045009/https://www.nytimes.com/2025/04/18/business/trump-powell-fed-markets.html

For months, Mr. Trump has privately fretted about the prospect of a Great Depression-scale event’s happening on his watch — a scenario he shorthands in conversations as “1929.”

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[–] jonne@infosec.pub 63 points 3 weeks ago (1 children)

Weird that he's doing everything in his power to cause a depression if he's so worried about it.

[–] Jhex@lemmy.world 22 points 3 weeks ago

that's because he is an idiot

[–] Treczoks@lemmy.world 23 points 3 weeks ago

Basically Powells quasi-independence from Trump is one of the last strands of hair that gives the US Dollar credibility.

Replace him by just another MAGA brain, and the Dollar will be losing trust like a sieve loses water.

[–] IsaamoonKHGDT_6143@lemmy.zip 21 points 3 weeks ago (2 children)

If Trump screws up the finances, his "third term" is impossible.

[–] dyathinkhesaurus@lemmy.world 16 points 3 weeks ago

Not necessarily in this timeline. Each time I think this is the worst that can happen, he hands someone his beer 😕

[–] Seleni@lemmy.world 2 points 3 weeks ago

Let me introduce you to a little concept called martial law…

[–] Blackmist@feddit.uk 19 points 3 weeks ago

He needs to at least give his billionaire chums a few days notice to offload a massive chunk of their shares first.

[–] Isabella@lemmy.world 13 points 3 weeks ago

1929, 1938, whats the difference ?! /s

[–] vegeta@lemmy.world 9 points 3 weeks ago

As long as Trump gives his flock something to fear and look down upon, nothing else he does matters.

From what he’s been spouting today, it looks more like setting Powell up to be a scapegoat for his die-hard followers than any real “tempering”.

I call bullshit on NYT. This is people in the admin trying to sanewash things.