Hassett: Fed monetary policy must be entirely independent from political influence, including from Trump

People lie so much these days as if it is some kinda right that it is difficult to what the truth is anymore. Judging by the sentiment here and his track record, he is lying.

Which is kinda weird, because he is virtue signalling.

What?

Don't worry, his fingers were crossed as he spoke these words

These individuals will say any narrative to fit their agenda . Their actions don’t match their words .

Simple as that .

https://blog.uwsp.edu/cps/2024/09/12...deral-reserve/

The Project 2025 monetary policy proposals include:

1) Returning the U.S. to the gold standard (commodity backed money).

2) Elimination of the Federal Reserve’s dual mandate of maximum employment and price stability replaced with a focus solely on price stability.

3) Reduce and limit Federal Reserve purchases of financial assets, including federal debt and mortgage-backed securities.

4) Limiting the Federal Reserve’s lender-of-last-resort function, which offers loans to banks near collapse.

5) Exploring alternatives to the Federal Reserve System, including elimination of the Federal Reserve and the implementation of “free banking”.

It is a pro Zionism and anti authentic Jewish organisation with connections to Jared Kushner.
At least we know who is running US.

AI Overview
The "Heritage Foundation" has a complicated connection with the Jewish community, as it is a conservative think tank with a focus on U.S.-Israel relations and combating antisemitism, particularly Project Esther, which aims to suppress pro-Palestinian activism and has been criticized by some Jewish groups for incorporating antisemitic tropes and a White nationalist agenda. While the Heritage Foundation seeks to align with certain segments of the Jewish community, its rhetoric and strategy have been rejected by others who view its efforts as harmful to Jewish voices and ultimately serving a broader right-wing agenda.
The Heritage Foundation's Stated Goals & Actions
Combating Antisemitism:
The Heritage Foundation launched Project Esther to combat what it claims is antisemitism, including the anti-Zionist activism on university campuses.
Support for Israel:
It has worked to strengthen U.S.-Israel relations, viewing a strong relationship as a vital American interest.
Targeting Pro-Palestinian Activism:
As part of its strategy, the Heritage Foundation has targeted anti-Zionist groups and pro-Palestinian protests, according to a report by The New York Times, according to a report by The New York Times.
Criticisms from Jewish and Pro-Israel Groups
Undermining Jewish Voices:
Critics, such as those at Contending Modernities, argue that the Heritage Foundation attempts to speak for all Jews, suppressing diverse opinions within the community.
Misrepresenting Antisemitism:
Some argue that the Heritage Foundation incorporates antisemitic tropes in its own rhetoric and fails to adequately address right-wing antisemitism.
Allegations of a Broader Right-Wing Agenda:
Critics contend that the Heritage Foundation's efforts are part of a broader agenda that includes Christian fundamentalism, White nationalism, and a desire to control political dissent.
Rejection by Jewish Organizations:
Jewish organizations like Jewish Voice for Peace have publicly rejected Project Esther, calling it an effort to silence those critical of Israel.
Key Takeaway
The Heritage Foundation's relationship with the Jewish community is contentious; while it presents itself as a partner in fighting antisemitism and supporting Israel, critics within the Jewish community and from other perspectives argue that its agenda is rooted in prejudice and undermines authentic Jewish voices.

Hassett is never without that shiteating grin that liars wear when they know they are lying to you and they think it's funny. It's basically just, fuck you, I'm lying, because I can.

well you need a straight face for the atrocities...

Re: Kevin Hassett: "Fed monetary policy must be entirely independent from political influence, including from Trump."

Kevin Hassett, the director of the National Economic Counsel, was also tapped by the first administration of president Trump and served as the economic advisor to the infamous presidential candidate, the national hero, Senator John McCain.

Hassett's Democratic enemies called him "the dumbest economist there is." While this may be an exaggeration, it may be another case of president Trump selecting people from a long line of questionable advisors. Take it from me, a conservative who voted for president Trump three times as the booming national economy confirmed my votes.

The biggest Hassett's faux pas was in 1999 when he coauthored a book entitled Dow 36,000. In the book, Hassett and his coauthor argued that the stocks were significantly undervalued so the Dow would reach 36,000 in at most five years, namely in 2002 to 2004.

In spite of the Fed Chairman Greenspan's trying mightily to keep the national economy going by holding the interest rates low and therefore keeping the euphoria in buying real estate going, thus single-handedly engineering the Great Recession of 2008, it took another 21 years for the Dow to reach 36,000 in the year 2020.

The problem is not in the Dow at 36,000. The problem is that at any given point in time economists are falling all over themselves "forecasting" the state of the economy based on unverified assumptions and hypotheses without having anything to support their forecasts with. Thus, their "forecast" is based on "I believe" rather than "I know." There is a monumental difference between "I believe" and "I know," which seems to be negligible to all those who accept this type of inexpert economic "forecasting."

At any given point of time a score of economists is giving us that type of "forecasts." If and when one of them hits it on the nose, he then uses this in advertising his wisdom for posterity.

As we can also see from Kevin Hassett's forecasting, such inexpert forecasts may become true if we wait long enough. This is particularly true, when the national economy is booming, for the recent forecasts of the imminent recession in the United States. Thus, if we wait long enough, perhaps for years, our cyclical capitalist economy will surely overheat and slow down.

Another example would be the "economic model" of Bloomberg News that "forecasted" a recession for November 2022 with the probability of 100%! This is in addition to the well-known fact that there is no economic forecasting with the probability of 100% as both tails of the distribution of probability of an economic event go to infinity.

I used to go to an annual meeting of a bank where the president said with a straight face every year: "I am always wrong with forecasting the interest rates but I will take another stab on that today."

On the lighter side, there is a joke about such "forecasting:" Albert Einstein goes to Heaven. He talks to various people there until he runs into a guy with an IQ of 75. Then Einstein says: "Oh great! Can you tell me what is going to happen with the interest rates next year?"

Yeah. Some people are just smilers, whatever they are talking about. I'm sure they don't mean to. It irks me a bit.

Here we had a bloke who was a newsreader presenter who was a bit of a smiler. He was good, but he couldn't last very long presenting the news. I think he went on to be a game show host or something.

Wink, wink...!