Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (24125)	4/23/2025 10:17:58 AM
From: #Breeze	4 Recommendations Recommended By CrashDavis sixty2nds tntpal toccodolce Read Replies (1) \| Respond to of 26443

Powell got off easy unlike "When LBJ Assaulted a Fed Chairman" mises.org " summoned then-Fed Chairman William McChesney Martin to Johnson’s Texas ranch where Johnson shoved him against the wall. Physically assaulting the Fed chairman is probably a greater threat to Federal Reserve independence than questioning the Fed’s policies on Twitter." And here are others. So being openly critical of a Fed Chair is not new. Harry S. Truman (President: 1945–1953) vs. Thomas B. McCabe (Fed Chairman: 1948–1951) Truman clashed with McCabe over the Fed’s reluctance to maintain low interest rates to finance Korean War debt. Truman favored a pegged low-rate policy, while McCabe pushed for Fed independence. Truman’s pressure led to the 1951 Treasury-Fed Accord, which granted the Fed more autonomy but reflected tensions. Truman reportedly called McCabe a “traitor” for resisting White House influence. Richard Nixon (President: 1969–1974) vs. Arthur Burns (Fed Chairman: 1970–1978) Nixon appointed Burns but later criticized him for not being expansionary enough to boost the economy before the 1972 election. Nixon reportedly pressured Burns to lower interest rates, with some historians suggesting Burns acquiesced, contributing to inflation. Tapes from Nixon’s presidency reveal him saying Burns needed to “get with the program.” Ronald Reagan (President: 1981–1989) vs. Paul Volcker (Fed Chairman: 1979–1987) Reagan was critical of Volcker’s tight monetary policy to combat inflation, which led to high interest rates and a severe recession in 1981–1982. Reagan’s advisors, including Treasury Secretary Donald Regan, openly criticized Volcker, and Reagan himself expressed frustration, though he avoided direct public attacks. In a 1984 meeting, Reagan reportedly urged Volcker to ease policy ahead of elections.