Oops I Did It Again But With Federal Reserve Nominees
Hey y'all it's Britney! So apparently there's some drama swirling around the Federal Reserve and honestly it's giving me flashbacks to... well let's just say a simpler time when the biggest concern was whether my cats Snowball and Max would ever get along. Senator Tim Scott is hoping this investigation into Jerome Powell just poof vanishes! He wants to get Kevin Warsh confirmed ASAP. Sounds like someone is saying "Gimme More"... More stability maybe? More economic growth? It's all so complicated like trying to figure out the lyrics to '…Baby One More Time' after a long day of you know being me.
Stronger Than Yesterday But Is the Fed?
Okay so Senator Thom Tillis is putting his foot down – no Fed nominees until this Powell situation is cleared up. It's all about "process" he says. Reminds me of when I insisted on creative control over my music videos. Gotta protect your vision right? And speaking of visions Trump apparently wanted Powell to cut interest rates like he was cutting a rug on the dance floor. Powell stood his ground though. Sounds like someone needs to learn a little bit about independence. Speaking of market reactions have you seen Kospi Hits Record High Amidst Global Market Unease amidst all of this financial uncertainty? It's a wild time to be alive.
Not a Girl Not Yet a Fed Chair?
Apparently Powell was supposed to testify before Congress but this whole investigation threw a wrench in things. Senator Scott had a chat with him and basically said "Get your act together!" (Okay maybe not in those exact words). But honestly who hasn't been "woefully unprepared" at some point? I mean remember that time I forgot the lyrics to 'Oops!… I Did It Again' during a concert? Mortifying! But we all make mistakes. The important thing is to learn from them and move on. Like a prayer.
My Prerogative and the Independence of the Fed
Senator Tillis is worried about the Fed Chair serving "at the pleasure of the president." Honestly that sounds like a recipe for disaster. The Fed needs to be independent like me deciding what flavor Frappuccino to order (it's usually vanilla btw). It's important that they make decisions based on what's best for the economy not based on political pressure. Plus it's important to have the experience the expertise the authoritativeness and trustworthiness. It all boils down to great EEAT.
Lucky Star or Shooting Star for Warsh?
Senator Cramer seems optimistic that some Democrats will support Warsh. He says there's no reason they shouldn't. Maybe he's right. Maybe Warsh is exactly what the economy needs. Who knows? I'm just a pop star not an economist. But I do know that everyone deserves a fair chance and hopefully Warsh will get one. As long as he promises not to raise interest rates so high they ruin my chances to fly private.
Work Bitch for the Economy
Senator Banks is already on board with Warsh saying he "understands the importance of bringing down high costs and interest rates." Sounds like he's ready to "Work Bitch" for the economy. And honestly who isn't? We all want a healthy economy one that works for everyone. Hopefully this whole Fed situation will get resolved soon and we can all go back to worrying about more important things like finding the perfect pair of shoes or perfecting the art of the selfie. Peace out.
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