He's the one who put him there, but I'm not sure he "serves at the pleasure" as do other cabinet posts.

I've seen comments by Powell that he plans to remain at the position for the duration of his term, regardless the displeasure of the president. Certainly if he's beyond dismissal, that would ensure fairness in his decisions to steady the economy. I hope that's the case, even if it's for Trump's own good.

On edit:

I looked it up and "The chair does not serve at the pleasure of the president, meaning that he or she cannot be dismissed by the president, though the chair can resign before the end of the term".

This has to boil Trumps ass something fierce. How long before Powell gets a childish nickname?

Powell is a conservative, he's cooperated moderately with Trump's policy requests. The only thing to the right of Powell is full-blown supply sider to inflate the economy and destroy the currency. Powell is also well-respected.

Can't cut rates now Mr. Fed.

Inflation is creeping in and it is not wise to cut rates when you have inflation.

I bet chumpy is all pissed off. Oh well ...

https://finance.yahoo.com/video/cpi-higher-expected-november-increasing-190222057.html

& recommend.

Anytime someone tells me of Trump's "booming economy" I point out that, as a retiree, inflation is my worst enemy and everything Trump does fuels it.

It's not hard to find something that costs much more now than just a couple years ago. Tariffs just add to our devalued currency crisis.

When celery was $5 lb. not too long ago, you'd be a fool not to realize how much inflation there is.

This is just one example.

Everything is going up in price and I too am a retired person.

they used to track inflation before, thus rigging the whole game. If inflation was so tame, etc., then why are houses 2 or 3 times what they were 30 years ago (or worst)? Why are our groceries (like a head of lettuce for example) up to $1.50 from $1.00 for example (this is one tiny example).

Without dating myself, I can remember when celery was .19 cents!

This game is literally killing off senior citizens that are advised to stay away from the stock market, hence all they can get is a paltry 2% on a savings account if lucky.

trying to extend their savings to last longer. But, to risk investing in a stock market that is rigged (in my opinion) and to invest in something like silver and gold (and you constantly hear stories of rigging there to, in those markets too). Even the real estate market is way overpriced, especially in highly congested areas, that have too much traffic and insane home insurance rates and real estate taxes. Ridiculous.

It's getting to the point that you don't listen to any 'experts' anymore. I view them all very suspiciously now, every one of them, for they all seem to have a hidden motive (to enrich themselves, not all of them to be fair). When I go onto YouTube, it seems like there's some expert saying 'oh this is bad' or 'or this is going to happen' or 'buy or do this, etc.'.

IMHO, Your best bet is to have everything paid for, downsize effectively, buy accordingly (that is, stock up on goodies that come out w/ good price points), watch your health, eat smart, drive smart, plan trips well, etc. Keep cash on the sidelines and if something does come up, you'll have it there if need be.

Just this past month I had to pay property taxes, homeowners insurance, credit card bills, the cost of medical equipment (a hearing aid), etc.

It has left me about broke.

I still have my old car and have managed to get rid of everything else that is a drain, like cable TV.

As for investments, gold worked out well for me but I wish I had bought more of it when it was at $300 an oz.

It is not just you or me. There are many more just like us.

I do not trust the stock market and have always been reluctant to invest what I have in it so it is low-paying CD's and a crummy on-line savings account paying 1.8% (I think ...).

Hang-in there they say, things will get better soon.

Yeah righto!

See what they have to say then.

different than what they would be for younger folks (they are buying clothes, cars, houses, etc.) where as the older ones of us are not buying this kind of stuff, but insurance, staples, etc. A whole different basket of goodies. Perhaps this would be a better index of our costs.

Used to have "5lb" bags of sugar. Then one winter, it became a "4lb" bag of sugar and I remember back then asking the store manager what happened to the "5lb" bag and was told - well this was a "seasonal" thing "for baking". That following spring, the "5lb" bags were back but then the next winter, in comes the "4lb" bags again and after that, the 4lb was the "new" standard (not counting the 1lb boxes and occasional 10lb bags). And that was almost 8 years ago - https://www.thedailybeast.com/the-incredible-shrinking-sugar-bag

In fact there is a DU2 thread about that - https://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=105x8725837 plus other products (like 6oz cans of tuna dropping down to 5oz, 16oz boxes of pasta dropping to 13.5oz).

Basically the "price" stayed the same but for less product. And now the prices have gone up on that lesser amount. And it's been to the point where a 69 cent box of spaghetti suddenly becomes part of a "10 for $10 special" - going from 69 cents to $1 but "appearing" to be "cheap" because it's "only a $1".

(am retired too)

every other demographic group in America is shrinking. At our expense too.

Stomping away it is IMO too!

and the low rates have been royally screwing over savers and conservative retirement accounts that depend on interest income.