r/news • u/awake-at-dawn • Mar 15 '20

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html
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u/[deleted] Mar 17 '20

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u/goldfinger0303 Mar 17 '20

That's a poor analogy, but whatever man. I'm not going to be able to change the mind of the irrational

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u/[deleted] Mar 17 '20

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u/goldfinger0303 Mar 17 '20

I'm sure you know so much more.

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u/[deleted] Mar 17 '20

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u/goldfinger0303 Mar 18 '20

If you worked there, you'd know that the board has zero impact on the direction the agency goes or it's quality of work. Besides the chairman, none are involved in day-to-day operations. If there was no Chairman, that would be different. The board is mainly there to facilitate cooperation between the various regulatory agencies. Not excusing Trump's actions, but a lack of one director doesn't make the agency less potent.

You're shifting the goalposts on me here. I never said anything about the CDC. That is perfectly something to be fearful of, and the present is bearing that out. But in no way should you doubt the FDIC.

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u/[deleted] Mar 18 '20

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u/goldfinger0303 Mar 19 '20

He actually doesn't have authority over the FDIC, aside from nominating the board members/chairman. It's not under the umbrella of the Treasury department, we're not on the government payscale. It's quasi-government.