Most people (not all) do not understand -
How important it is for the Fed to maintain independence in its' policy making, and monetary decision making.
Does anyone really want an (unqualified) politician determining monetary policy that can (actually) affect the Global economy.
There are (Severe) consequences, and (most) people; do (not) have a clue; but will find out if it does (actually) happen.
It won't be good.
It's going to be hilarious when Europe begins selling their USA government debt
Everything will be bad, but Donnie's successor for Powell will make it worse, and there will be no place to run, nowhere to hide
@21g The issue is trust. For decades, Schwab told employees and clients that credibility, stability, and integrity were core to its identity. When the firm’s founder now openly supports a political movement that pressures independent institutions like the Fed, it’s fair to ask whether those principles still matter. It’s difficult to tell whether those values eroded over time or were simply set aside when they became inconvenient. Either way, for a financial firm, that loss of trust matters or it should.
@1xw No one is forcing you to and the accounts su-k anyway. What's the real issue here?
I will not be investing in a new account type named after an authoritarian style president who is now deploying paramilitary against our own citizens.
@ca The founder doesn't give a sh$t - he has made his money just trying snaggle up to DJT for his heirs
@c9 not sure if serious but politics and economic policy determine layoffs
I imagine the founder/largest shareholder of Schwab understands why Fed independence matters. His open support for the man driving threats and intimidation against the Fed chair suggests a clear indifference to who absorbs the consequences. Those costs won’t touch the ultra-wealthy (himself and the executive council), but they will fall on everyone else, including the people who work at the firm he founded. It’s deeply disappointing.
I’m just here to learn about layoffs
@OP The rich want to control the Fed to get richer and more powerful. AI is taking over. The middle class get poorer by the day.
Yup. Mirroring 1930s Europe with late 1920s markets and 2007 policy. Layoffs are coming. Industry wide. Anyone not prepared for a crash coupled with politicians only focused on their needs and not recovering is going to hurt.