Episode Transcript
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Speaker 1 (00:02):
You're listening to Charleston's Morning News on ninety four to
three WUSC. Now back to Kelly and Blaze.
Speaker 2 (00:11):
And today's top stories. Seven five.
Speaker 3 (00:13):
Welcome in to a Wednesday edition of ninety four to
three WSC and Charleston's Morning News.
Speaker 4 (00:19):
President Trump says he has no intention of firing Federal
Reserve Chair Jerome Powell. Last week, Trump implied he could
fire Powell if he wanted to, saying he's not happy
with him. While speaking to reporters in the White House,
Trump said he was never actually going to fire him,
but he'd like to see him take more steps to
lower interest rates. Powell, a fellow Republican whose term ends
(00:40):
in twenty twenty six, has previously said he would not
step down if Trump asked him to, and that it's
not permitted under the law for a president to fire
or demote him.
Speaker 2 (00:52):
Here we go again, running with their own narrative.
Speaker 4 (00:58):
Well, you have to wonder why right before the election
they did a half a point drop, you know, they
slashed the prime rate by half a point.
Speaker 2 (01:05):
You think he was concerned for his job.
Speaker 4 (01:07):
I think it was to sway the election. I mean,
I think it was to help the sitting president. They
only do half a point at a time, like under
serious conditions, and those conditions didn't exist at that time,
so they were quick to you know, they keep doing
these quarter point quarter point up, quarter point down right
at a time, and then if it's something very serious,
(01:28):
they'll do it half a point. And right before the election,
what was going on that was so serious in the
economy that they felt the need to drop interest at
rates by half a point?
Speaker 2 (01:39):
Maybe Jerome Powell thought Kamlo would win.
Speaker 4 (01:41):
If it wasn't political. And then now when you could
use that interest rate drop, they're like, no, we have
time and we're just going to take our time. So
that seems suspect to me.
Speaker 2 (01:52):
They've never to me.
Speaker 3 (01:54):
It really hasn't made since Jerome Poweller for quite some
time on where he's been, you know, needling around with
the interest rates. I am not a financial expert. I
don't pretend to be. But you know, there's a method
to the hay to use word madness because we know
how the left is about Orange Man bad, but there's
a method here. And Scott Bessen here, you know, had
(02:15):
a commerce here is explaining how you know the method
is with refinancing our debt and paying it down quicker
at lower interest rates.
Speaker 4 (02:25):
Well, I mean it helps everybody, you know, and it
doesn't necessarily it's not directly tied to your mortgage rates,
but it certainly has an influence.
Speaker 2 (02:34):
Yeah, trickle effects.
Speaker 4 (02:35):
Everything from mortgages to car loans and everything else, credit cards.
So I find it suspicious that right before the election
they're like, oh, half a point drop. When's the last
time they did a half a point drop? I think
it was like during the COVID.
Speaker 2 (02:49):
Crisis, about to say, at least three three years.
Speaker 4 (02:52):
And it was under much more as serious economic conditions,
is my point. So why the need for a half
a point drop then? And then now sitting on their laurels,
now we can backseat quarterback this all we want. I
don't know, but you know, they should start dropping the
interest rate. And they'll say they're afraid of inflation in
(03:14):
all of that, But if you start looking at inflation,
I mean, it's not anywhere near what it was a
few years ago. True, What do you think? Seven to
two to one talk seven two one eight two five
five is the number of the ninety four three WSC
Studio This.
Speaker 1 (03:27):
Morning, Your News Traffic, Weather and Information station. This is
Charleston's Morning News on ninety four to three WSC Now
back to Kelly and Blaze.
Speaker 3 (03:41):
And President Trump, who says, no, it's fake news. I
have no intentions of firing Fed Reserve chair Jerome Powell.
Speaker 4 (03:49):
Never did.
Speaker 5 (03:50):
The press runs away with things now, I have no
intention of firing him.
Speaker 3 (03:54):
Well, that's something he's going to have to stick to.
Certainly is an opportunity to change his mind.
Speaker 4 (04:00):
But well, I don't, you know, it shows you how
fickle the market is. So the market's going to react
because he says he's going to fire Jerome Powell. I mean,
at the end of the day, why would that affect
the market so much?
Speaker 3 (04:12):
It was like every there, like you said, there's a
fickle feels like everything affects the market.
Speaker 4 (04:16):
Well it does, you know, and you see it ping
ponging around like that. You know. But at the end
of the day, it's either going to be Jerome Powell
or somebody else. So I don't see why it would
have such an effect on the stock market. Maybe I'm
missing something. Maybe a financial expert can point out why
what I'm missing, But you know, I don't I don't
(04:36):
see how other than it's just reminds me of like
Gossip Girls or something. The way the market reacts, it's like,
did you hear many Jane's had.
Speaker 3 (04:47):
It's like everyone soon starts running and screaming and pulling
their hair out.
Speaker 4 (04:51):
Yeah, I don't. You know. It's not for the faint
of heart at this point, you know, being invested, but
it's the part thing to do right now is probably
trying to buy.
Speaker 3 (05:03):
Oh yeah, well, I mean that's exactly what people have
been saying for weeks now at this point, that this
is an opportunity of a lifetime. Actually, depending on your generation,
especially for you know, the whether you're young, medium, we'll
just say young, medium, older, you know older, Certainly you're
(05:24):
in a protection mode, I would think, depending on I
suppose you're worth your wealth. But for younger and medium,
it's like okay, lean in here well.
Speaker 4 (05:36):
Or just stay steady. I mean, that's the thing. If
you start young enough and you keep investing, You're going
to invest when it's down, You're going to invest when
it's up. Just keep steadily investing, and then over time
your average will look pretty good.
Speaker 3 (05:50):
Well, what I find interesting about the whole Fed reserve
chair position with your own pal How long has he
been at this? For as long as I can remember,
it's been He's been there a while as a FED
reserved And I didn't realize that this is a presidential appointment,
meaning you know that this narrative was even a thing
with the President saying no, I'm not going to fire him.
I didn't think that the president had the you know,
(06:12):
the firing power because this position is forever supposed to
be as FED reserve chair, if it's even possible as
a government position, and apparently an appointed one at that
that it's supposed to be non political, a political.
Speaker 4 (06:29):
Mmm.
Speaker 3 (06:30):
Have you heard Jerome Palace speak in the last week
or so? He didn't sound very a political to me.
Speaker 4 (06:36):
So he's been there since twenty eighteen, it's.
Speaker 2 (06:38):
Been a minute.
Speaker 4 (06:39):
Yeah, And you know, it's kind of a snowmer because
they call it the FED, but it's not. These people
are not part of the federal government. This is part
of the private banking system that sets these rates in
the FED chair, So it's not like he's serving the
FED is not really the FED.
Speaker 3 (06:57):
Not to confuse you, You see what I mean though
about the So he was appointed, I suppose is that
what it is where he's appointed. If that's twenty eighteen,
then that's under Trump. It was Trump's, you know decision,
I suppose to for Jerome Powell to be where he
is if that's the If that's how this works, if
(07:18):
we're actually out here talking in the propaganda press that
Trump might want to get rid of someone or doesn't
agree with what he needs to do, you know, his
plans for the future of our economy.
Speaker 4 (07:29):
So he became a member of the Federal Reserve Board
under Barack Obama in twenty twelve, and then he was
elevated a chairman by Trump in twenty eighteen.
Speaker 3 (07:40):
So I mean, here he has been around thirteen years
in the process of all of this. Interesting that initially
appointed to his post by a Democrat and then elevated
by our Republican So to me, couldn't be more bipartisan
there with picking this man. But over the last week
or two, you know, I've kind of caught him on
panels sort of leaning in politically on some stuff, and
(08:03):
I'm like, wait, what are you doing. You're supposed to
play both sides of the fence or in the middle.
However you want to describe it.
Speaker 4 (08:12):
Well, you know, and I think that's probably an impossible
position to be in these days, the middle, because nobody's
going to consider the fact that you're in the middle.
They're going to take issue the middle. Both sides are
going to take issue with you.
Speaker 3 (08:25):
Yeah, it's not Well, it's not an easy place to be.
But if that's what you're tasked with, then don't sit
on a panel and put yourself in a position where
you have to answer questions like that.
Speaker 4 (08:35):
Well, it's his job, as.
Speaker 2 (08:37):
Is that part of his job. Maybe you don't have
to agree with him.
Speaker 4 (08:41):
Well, it's certainly nothing new for the FED chair to
make remarks on the economy.
Speaker 3 (08:46):
Well, yeah, I just I think that certainly he's been
in the position long enough by now to know what
mind fields to avoid and not step on.
Speaker 4 (08:56):
Well, I don't know if he's created any minefields lately.
Speaker 3 (09:00):
Well, I'm talking Well, this current president certainly has, whether
it's on tariffs or I mean, not him, I'm talking
about others out there, whether it's the previous administration, the
current administration. You know, I get your point, where if
you're in the middle, you're going to get a tug
and a pull from both sides of Wait, you know, pick
a lane. But quite literally, I thought it was in
(09:21):
his job description to not pick a lane, because because
when you do, don't you think that that back to
the finnicky, fickle market of all the little screaming you know.
Speaker 4 (09:32):
Well, I mean gossips define picking a lane, right, So
you know picking a lane would be well, I would
vote for Kamala, or I would vote for Trump, or
I would.
Speaker 2 (09:43):
Picking a laine.
Speaker 3 (09:44):
Is speaking against tariffs in a negative way as opposed
to a positive way, or maybe not at all.
Speaker 4 (09:51):
Well, if he believes, is fed chair that the tariffs
are will have a negative effect, then he should say so.
So I don't hold that against him, you know what
I mean? Would you rather have him just tow the
administrative line administration's line?
Speaker 3 (10:07):
No, I think that I would, as for per his expertise,
I would want him weighing in one way or the other.
And if I'm too, as part of my job not
seem at all political, then I would give a positive
and a negative.
Speaker 2 (10:23):
Do you see what I'm saying?
Speaker 3 (10:24):
I would say, well, here's the positive side of it,
and then there also could be the negative side of it.
Speaker 2 (10:28):
And these are the things that I have to do.
Speaker 4 (10:29):
I see what you're saying, very wishy washy. You know,
I get what you're saying, but I don't think that's practical.
I used the FED chair, so he has to say, well,
here's what I predict is going to happen in the
economy and why we should move in whatever direction in
response to it, instead of like, oh, well, here's what
(10:49):
will happen one way, here's what will happen another way,
and you decide he's the chairman of the Reserve.
Speaker 3 (10:56):
Well, I'm not saying that he presents it as you decide.
It's here's here are the facts that I'm looking at.
Fact is on a positive side, there's this. On a
negative side, there's that, and these are the things that
I'm weighing. And time will tell depending on whatever his
decision is or win. I mean, this is a job
I wouldn't want to have. I don't want a Monday
morning quarterback the guy. Unfortunately, here we are. I'm just saying,
(11:20):
if you're supposed to be a political then I you know,
he needs to be a bit more measured. I suppose
just some of the talks and sit downs, I can't
I don't have the audio pulled up here. But some
of the things, I'm like, whoa, he's sounding a little
bit more political than I've ever heard him be.
Speaker 4 (11:36):
You know, I'd have to hear those examples.
Speaker 2 (11:37):
Yeah, that's what I'm saying.
Speaker 4 (11:38):
But I mean generally, if he's just talking about a
negative effective tariffs, he's not the only one saying that.
Even Trump has said that.
Speaker 2 (11:45):
Right.
Speaker 3 (11:45):
Well again, to me, there is an educational opportunity here
because we are an unprecedented times in our country and
he is the Fed Reserve chair, So you can educate,
you can. He just I don't in any way envy
this man because it's like whatever he says, people hang
(12:06):
on those words.
Speaker 1 (12:09):
This is Charleston's Morning News with Kelly and Place.
Speaker 2 (12:13):
It's a perfect time to lower interest rate.
Speaker 4 (12:16):
If he doesn't is at the end you know it's not,
but it would be good timing it, which could have
taken place earlier.
Speaker 3 (12:23):
Move faster, Jerome Powell, so says President Trump.
Speaker 4 (12:27):
Yeah, I mean I think he could move faster and
they could drop rates. Steve's on the line. He was saying,
you've gone to the dark side. You're defending Jerome Powell,
and it's like, that's not exactly what I was doing,
so I wanted to clear that up if it came
off that way. I didn't mean to defend Jerome Powell.
I was just saying that, you know, it's not a
neutral position where you present both sides of the argument
(12:51):
and let everybody decide. It's your job to kind of
steer it whether you like that or not. That's the
way it works. And the FED is a misnomer. It's
not the FED. It's a private institution and uh and
it's run by the illuminati, to be clear. So that's
my position. It wasn't to defend Jerome Powell. Steve good
Morning Place.
Speaker 5 (13:11):
Is actually being kinder to me than I deserve. I
suggested that he was a uh he had been a
body snatched from the body because like, who are you?
So he's actually being kinder than than I was. Actually
he The FED is a monstrosity. It's it's it's a
(13:36):
a bureaucratic, hellish creation that is designed to enslave us
and keep us down. And it always has served this function,
as as Ron Paul has been pointing out for forty years,
it's never been audited. We have no idea where the
money has gone. And and and what's going on with
(13:56):
the FED? Never We've never known and uh, you know
it's just say keep it up. We never will.
Speaker 4 (14:01):
Well you have to go to you know, builderberg for that.
Speaker 5 (14:05):
Well, you know, it's a joke. Look at what they've
done to us, Like to suggest that the builder Burgers
had something to do with the FED, even though it's
historically true. You sound like a conspiracy not to say it.
It sound like a nut like all the builder Burgers. Yeah, yeah, sure,
but actually they did, they actually did have something.
Speaker 4 (14:24):
To do with it.
Speaker 5 (14:25):
The latest iteration of the FED that was created in
nineteen fifteen.
Speaker 4 (14:29):
Well, yeah, to do is watch the limousines and who's
in them as they work their way into that meeting,
and that will give you a clue.
Speaker 5 (14:40):
Yeah, well yeah, it's it's it's a it's gotta go.
And as Place pointed out too, it is an excellent
point that right before the election, the the FED under
Jerome Powell's leadership, dropped interest rates by half point.
Speaker 2 (15:00):
Hmmm, half a point.
Speaker 5 (15:01):
I mean that helped Biden.
Speaker 2 (15:02):
But Steve, go back to.
Speaker 3 (15:03):
Your go back to your first point of the fact
that the FED Reserve has never been audited. Meanwhile, you me,
we the American taxpayer is well, depending on where you
work and how you work, you're you're audited on a
quarterly basis. Certainly we are annually on the heels of
tax Day. I mean, it's so infuriating, it's hard to believe.
Speaker 5 (15:24):
I mean, people don't believe me when I say that,
and they say all the Feds. Of course, it's it's
meticulously oversighted, you know, No, it's not. No one has
any idea what's going on in the FED except for
you know, these creatures, these swab creatures. Nobody knows.
Speaker 4 (15:42):
Nobody knows that.
Speaker 5 (15:43):
And Rand Paul is beating this drum too, and I'll
look at the look at the resistance. He gets the
same with his father, Ron Paul, just just mentioning it.
You'll get buried by the opposition, don't even suggest it.
Speaker 4 (16:00):
Think we better be looking over our shoulders this morning, Steve,
because the older brothers are going to be coming for us.
Speaker 3 (16:07):
He's in the Adirondacks this morning, streaming live via the
ihire radio app.
Speaker 2 (16:11):
I think so he's all right.
Speaker 4 (16:12):
Yeah, I appreciate it. No, I was not snatched. Well,
I'm in my pod, Steve, so I'm safe.
Speaker 5 (16:20):
I guess.
Speaker 1 (16:28):
Now Charleston's Morning News with Kelly and Plays.
Speaker 4 (16:33):
We appreciate you being with us on this Wednesday morning.
Country music icon Tim McGraw is joining the lineup for
Major League Baseball's Speedway Classic this summer. I will perform
a pregame concert before the Atlanta Braves and Cincinnati Reds
take the field at Tennessee's Bristol Motor Speedway. McGraw will
be joined by special guests for the performance. The game
(16:54):
will be playing to August second. More than one hundred
thousand fans are expected to attend the Speedway Class.
Speaker 2 (17:00):
That's not where you're headed, is it.
Speaker 4 (17:02):
No, I'm going to Talladegga this week.
Speaker 3 (17:04):
Oh fun. No Tim McGraw appearance, I guess no.
Speaker 4 (17:08):
Tim McGraw. I got the chance to meet him a
few years ago downtown at the Gilliard.
Speaker 3 (17:14):
Was that just by happenstance? You just ran it to
each other in the parking garage?
Speaker 4 (17:18):
Yeah? I bumped into him on the street.
Speaker 2 (17:20):
No, the I mean that could happened.
Speaker 4 (17:22):
He did what's the presidential historian's name, John Meacham. So
he did a John Meacham did a historical presentation where
Tim McGraw played period music to go along with the
presentation that John Meacham was doing on history. So Tim
(17:45):
McGraw played, you know, songs that would have been popular
at that point in history.
Speaker 2 (17:51):
That sounds like a lot of fun.
Speaker 4 (17:52):
Yeah. So it was fun and I got to meet
them both and politics aside. Both very nice gentlemen.
Speaker 2 (17:59):
Yeah. I was gonna say, it's politics.
Speaker 3 (18:02):
This is this is where I go back to, Oh
he's a liberal, Yeah, as a musician's or you know,
oh man, even sports. I just can't we have some
hands off somewhere when it comes to politics.
Speaker 4 (18:15):
Well, I mean, you know, I don't.
Speaker 2 (18:16):
Isn't there people They have their own opinions.
Speaker 4 (18:19):
Right, and you don't have to. He doesn't seem to
me like he inserts his opinion everywhere like a lot
of them do.
Speaker 2 (18:25):
But we do know, is my point, I guess.
Speaker 3 (18:29):
And you know, if you're smart, I mean, I just
I wouldn't want to alienate anybody in my audience if
I'm an artist, and that's all I'm saying.
Speaker 2 (18:37):
But for some people it works.
Speaker 4 (18:39):
Yeah. Well, I mean, you know, if you have any
kind of influence and you believe strongly in something, I
can see wanting.
Speaker 2 (18:48):
To alienate you have your audience.
Speaker 4 (18:52):
Well, I mean, what do we do?
Speaker 3 (18:54):
Yeah, but this is our job, Blase, We're not country
music stars.
Speaker 5 (18:59):
You know.
Speaker 3 (18:59):
It's the same I feel when I sit on the
board of any nonprofit. I'm like, don't pick a lane
in politics, stay out of it. You're alienating half your
donor dollars. I mean, it's just, well, this is common
basic sense in my mind.
Speaker 4 (19:10):
This is not the only thing that I do for
a living, and one certainly affects the other.
Speaker 2 (19:17):
So you know, what do you mean in real estate?
Speaker 4 (19:19):
Well, so I'm a realtor. So do you think that
there might be some liberals out there who are like,
I Am never going to use that guy that I
hear spearing his nonsense every morning?
Speaker 2 (19:28):
Maybe? So?
Speaker 4 (19:30):
Right, So is that smart of me to do as
a realtor? Probably not.
Speaker 2 (19:35):
Certainly a decision you've.
Speaker 4 (19:36):
Made, absolutely So, this is what I'm saying. So sometimes
you make the decision to go out on that plank.
Speaker 1 (19:46):
Thanks for listening to the Charleston Morning Use podcast. Catch
Kelly and Blaze weekday mornings from sixty nine
You're listening to Charleston's Morning News on ninety four to
three WUSC. Now back to Kelly and Blaze.
Speaker 2 (00:11):
And today's top stories. Seven five.
Speaker 3 (00:13):
Welcome in to a Wednesday edition of ninety four to
three WSC and Charleston's Morning News.
Speaker 4 (00:19):
President Trump says he has no intention of firing Federal
Reserve Chair Jerome Powell. Last week, Trump implied he could
fire Powell if he wanted to, saying he's not happy
with him. While speaking to reporters in the White House,
Trump said he was never actually going to fire him,
but he'd like to see him take more steps to
lower interest rates. Powell, a fellow Republican whose term ends
(00:40):
in twenty twenty six, has previously said he would not
step down if Trump asked him to, and that it's
not permitted under the law for a president to fire
or demote him.
Speaker 2 (00:52):
Here we go again, running with their own narrative.
Speaker 4 (00:58):
Well, you have to wonder why right before the election
they did a half a point drop, you know, they
slashed the prime rate by half a point.
Speaker 2 (01:05):
You think he was concerned for his job.
Speaker 4 (01:07):
I think it was to sway the election. I mean,
I think it was to help the sitting president. They
only do half a point at a time, like under
serious conditions, and those conditions didn't exist at that time,
so they were quick to you know, they keep doing
these quarter point quarter point up, quarter point down right
at a time, and then if it's something very serious,
(01:28):
they'll do it half a point. And right before the election,
what was going on that was so serious in the
economy that they felt the need to drop interest at
rates by half a point?
Speaker 2 (01:39):
Maybe Jerome Powell thought Kamlo would win.
Speaker 4 (01:41):
If it wasn't political. And then now when you could
use that interest rate drop, they're like, no, we have
time and we're just going to take our time. So
that seems suspect to me.
Speaker 2 (01:52):
They've never to me.
Speaker 3 (01:54):
It really hasn't made since Jerome Poweller for quite some
time on where he's been, you know, needling around with
the interest rates. I am not a financial expert. I
don't pretend to be. But you know, there's a method
to the hay to use word madness because we know
how the left is about Orange Man bad, but there's
a method here. And Scott Bessen here, you know, had
(02:15):
a commerce here is explaining how you know the method
is with refinancing our debt and paying it down quicker
at lower interest rates.
Speaker 4 (02:25):
Well, I mean it helps everybody, you know, and it
doesn't necessarily it's not directly tied to your mortgage rates,
but it certainly has an influence.
Speaker 2 (02:34):
Yeah, trickle effects.
Speaker 4 (02:35):
Everything from mortgages to car loans and everything else, credit cards.
So I find it suspicious that right before the election
they're like, oh, half a point drop. When's the last
time they did a half a point drop? I think
it was like during the COVID.
Speaker 2 (02:49):
Crisis, about to say, at least three three years.
Speaker 4 (02:52):
And it was under much more as serious economic conditions,
is my point. So why the need for a half
a point drop then? And then now sitting on their laurels,
now we can backseat quarterback this all we want. I
don't know, but you know, they should start dropping the
interest rate. And they'll say they're afraid of inflation in
(03:14):
all of that, But if you start looking at inflation,
I mean, it's not anywhere near what it was a
few years ago. True, What do you think? Seven to
two to one talk seven two one eight two five
five is the number of the ninety four three WSC
Studio This.
Speaker 1 (03:27):
Morning, Your News Traffic, Weather and Information station. This is
Charleston's Morning News on ninety four to three WSC Now
back to Kelly and Blaze.
Speaker 3 (03:41):
And President Trump, who says, no, it's fake news. I
have no intentions of firing Fed Reserve chair Jerome Powell.
Speaker 4 (03:49):
Never did.
Speaker 5 (03:50):
The press runs away with things now, I have no
intention of firing him.
Speaker 3 (03:54):
Well, that's something he's going to have to stick to.
Certainly is an opportunity to change his mind.
Speaker 4 (04:00):
But well, I don't, you know, it shows you how
fickle the market is. So the market's going to react
because he says he's going to fire Jerome Powell. I mean,
at the end of the day, why would that affect
the market so much?
Speaker 3 (04:12):
It was like every there, like you said, there's a
fickle feels like everything affects the market.
Speaker 4 (04:16):
Well it does, you know, and you see it ping
ponging around like that. You know. But at the end
of the day, it's either going to be Jerome Powell
or somebody else. So I don't see why it would
have such an effect on the stock market. Maybe I'm
missing something. Maybe a financial expert can point out why
what I'm missing, But you know, I don't I don't
(04:36):
see how other than it's just reminds me of like
Gossip Girls or something. The way the market reacts, it's like,
did you hear many Jane's had.
Speaker 3 (04:47):
It's like everyone soon starts running and screaming and pulling
their hair out.
Speaker 4 (04:51):
Yeah, I don't. You know. It's not for the faint
of heart at this point, you know, being invested, but
it's the part thing to do right now is probably
trying to buy.
Speaker 3 (05:03):
Oh yeah, well, I mean that's exactly what people have
been saying for weeks now at this point, that this
is an opportunity of a lifetime. Actually, depending on your generation,
especially for you know, the whether you're young, medium, we'll
just say young, medium, older, you know older, Certainly you're
(05:24):
in a protection mode, I would think, depending on I
suppose you're worth your wealth. But for younger and medium,
it's like okay, lean in here well.
Speaker 4 (05:36):
Or just stay steady. I mean, that's the thing. If
you start young enough and you keep investing, You're going
to invest when it's down, You're going to invest when
it's up. Just keep steadily investing, and then over time
your average will look pretty good.
Speaker 3 (05:50):
Well, what I find interesting about the whole Fed reserve
chair position with your own pal How long has he
been at this? For as long as I can remember,
it's been He's been there a while as a FED
reserved And I didn't realize that this is a presidential appointment,
meaning you know that this narrative was even a thing
with the President saying no, I'm not going to fire him.
I didn't think that the president had the you know,
(06:12):
the firing power because this position is forever supposed to
be as FED reserve chair, if it's even possible as
a government position, and apparently an appointed one at that
that it's supposed to be non political, a political.
Speaker 4 (06:29):
Mmm.
Speaker 3 (06:30):
Have you heard Jerome Palace speak in the last week
or so? He didn't sound very a political to me.
Speaker 4 (06:36):
So he's been there since twenty eighteen, it's.
Speaker 2 (06:38):
Been a minute.
Speaker 4 (06:39):
Yeah, And you know, it's kind of a snowmer because
they call it the FED, but it's not. These people
are not part of the federal government. This is part
of the private banking system that sets these rates in
the FED chair, So it's not like he's serving the
FED is not really the FED.
Speaker 3 (06:57):
Not to confuse you, You see what I mean though
about the So he was appointed, I suppose is that
what it is where he's appointed. If that's twenty eighteen,
then that's under Trump. It was Trump's, you know decision,
I suppose to for Jerome Powell to be where he
is if that's the If that's how this works, if
(07:18):
we're actually out here talking in the propaganda press that
Trump might want to get rid of someone or doesn't
agree with what he needs to do, you know, his
plans for the future of our economy.
Speaker 4 (07:29):
So he became a member of the Federal Reserve Board
under Barack Obama in twenty twelve, and then he was
elevated a chairman by Trump in twenty eighteen.
Speaker 3 (07:40):
So I mean, here he has been around thirteen years
in the process of all of this. Interesting that initially
appointed to his post by a Democrat and then elevated
by our Republican So to me, couldn't be more bipartisan
there with picking this man. But over the last week
or two, you know, I've kind of caught him on
panels sort of leaning in politically on some stuff, and
(08:03):
I'm like, wait, what are you doing. You're supposed to
play both sides of the fence or in the middle.
However you want to describe it.
Speaker 4 (08:12):
Well, you know, and I think that's probably an impossible
position to be in these days, the middle, because nobody's
going to consider the fact that you're in the middle.
They're going to take issue the middle. Both sides are
going to take issue with you.
Speaker 3 (08:25):
Yeah, it's not Well, it's not an easy place to be.
But if that's what you're tasked with, then don't sit
on a panel and put yourself in a position where
you have to answer questions like that.
Speaker 4 (08:35):
Well, it's his job, as.
Speaker 2 (08:37):
Is that part of his job. Maybe you don't have
to agree with him.
Speaker 4 (08:41):
Well, it's certainly nothing new for the FED chair to
make remarks on the economy.
Speaker 3 (08:46):
Well, yeah, I just I think that certainly he's been
in the position long enough by now to know what
mind fields to avoid and not step on.
Speaker 4 (08:56):
Well, I don't know if he's created any minefields lately.
Speaker 3 (09:00):
Well, I'm talking Well, this current president certainly has, whether
it's on tariffs or I mean, not him, I'm talking
about others out there, whether it's the previous administration, the
current administration. You know, I get your point, where if
you're in the middle, you're going to get a tug
and a pull from both sides of Wait, you know, pick
a lane. But quite literally, I thought it was in
(09:21):
his job description to not pick a lane, because because
when you do, don't you think that that back to
the finnicky, fickle market of all the little screaming you know.
Speaker 4 (09:32):
Well, I mean gossips define picking a lane, right, So
you know picking a lane would be well, I would
vote for Kamala, or I would vote for Trump, or
I would.
Speaker 2 (09:43):
Picking a laine.
Speaker 3 (09:44):
Is speaking against tariffs in a negative way as opposed
to a positive way, or maybe not at all.
Speaker 4 (09:51):
Well, if he believes, is fed chair that the tariffs
are will have a negative effect, then he should say so.
So I don't hold that against him, you know what
I mean? Would you rather have him just tow the
administrative line administration's line?
Speaker 3 (10:07):
No, I think that I would, as for per his expertise,
I would want him weighing in one way or the other.
And if I'm too, as part of my job not
seem at all political, then I would give a positive
and a negative.
Speaker 2 (10:23):
Do you see what I'm saying?
Speaker 3 (10:24):
I would say, well, here's the positive side of it,
and then there also could be the negative side of it.
Speaker 2 (10:28):
And these are the things that I have to do.
Speaker 4 (10:29):
I see what you're saying, very wishy washy. You know,
I get what you're saying, but I don't think that's practical.
I used the FED chair, so he has to say, well,
here's what I predict is going to happen in the
economy and why we should move in whatever direction in
response to it, instead of like, oh, well, here's what
(10:49):
will happen one way, here's what will happen another way,
and you decide he's the chairman of the Reserve.
Speaker 3 (10:56):
Well, I'm not saying that he presents it as you decide.
It's here's here are the facts that I'm looking at.
Fact is on a positive side, there's this. On a
negative side, there's that, and these are the things that
I'm weighing. And time will tell depending on whatever his
decision is or win. I mean, this is a job
I wouldn't want to have. I don't want a Monday
morning quarterback the guy. Unfortunately, here we are. I'm just saying,
(11:20):
if you're supposed to be a political then I you know,
he needs to be a bit more measured. I suppose
just some of the talks and sit downs, I can't
I don't have the audio pulled up here. But some
of the things, I'm like, whoa, he's sounding a little
bit more political than I've ever heard him be.
Speaker 4 (11:36):
You know, I'd have to hear those examples.
Speaker 2 (11:37):
Yeah, that's what I'm saying.
Speaker 4 (11:38):
But I mean generally, if he's just talking about a
negative effective tariffs, he's not the only one saying that.
Even Trump has said that.
Speaker 2 (11:45):
Right.
Speaker 3 (11:45):
Well again, to me, there is an educational opportunity here
because we are an unprecedented times in our country and
he is the Fed Reserve chair, So you can educate,
you can. He just I don't in any way envy
this man because it's like whatever he says, people hang
(12:06):
on those words.
Speaker 1 (12:09):
This is Charleston's Morning News with Kelly and Place.
Speaker 2 (12:13):
It's a perfect time to lower interest rate.
Speaker 4 (12:16):
If he doesn't is at the end you know it's not,
but it would be good timing it, which could have
taken place earlier.
Speaker 3 (12:23):
Move faster, Jerome Powell, so says President Trump.
Speaker 4 (12:27):
Yeah, I mean I think he could move faster and
they could drop rates. Steve's on the line. He was saying,
you've gone to the dark side. You're defending Jerome Powell,
and it's like, that's not exactly what I was doing,
so I wanted to clear that up if it came
off that way. I didn't mean to defend Jerome Powell.
I was just saying that, you know, it's not a
neutral position where you present both sides of the argument
(12:51):
and let everybody decide. It's your job to kind of
steer it whether you like that or not. That's the
way it works. And the FED is a misnomer. It's
not the FED. It's a private institution and uh and
it's run by the illuminati, to be clear. So that's
my position. It wasn't to defend Jerome Powell. Steve good
Morning Place.
Speaker 5 (13:11):
Is actually being kinder to me than I deserve. I
suggested that he was a uh he had been a
body snatched from the body because like, who are you?
So he's actually being kinder than than I was. Actually
he The FED is a monstrosity. It's it's it's a
(13:36):
a bureaucratic, hellish creation that is designed to enslave us
and keep us down. And it always has served this function,
as as Ron Paul has been pointing out for forty years,
it's never been audited. We have no idea where the
money has gone. And and and what's going on with
(13:56):
the FED? Never We've never known and uh, you know
it's just say keep it up. We never will.
Speaker 4 (14:01):
Well you have to go to you know, builderberg for that.
Speaker 5 (14:05):
Well, you know, it's a joke. Look at what they've
done to us, Like to suggest that the builder Burgers
had something to do with the FED, even though it's
historically true. You sound like a conspiracy not to say it.
It sound like a nut like all the builder Burgers. Yeah, yeah, sure,
but actually they did, they actually did have something.
Speaker 4 (14:24):
To do with it.
Speaker 5 (14:25):
The latest iteration of the FED that was created in
nineteen fifteen.
Speaker 4 (14:29):
Well, yeah, to do is watch the limousines and who's
in them as they work their way into that meeting,
and that will give you a clue.
Speaker 5 (14:40):
Yeah, well yeah, it's it's it's a it's gotta go.
And as Place pointed out too, it is an excellent
point that right before the election, the the FED under
Jerome Powell's leadership, dropped interest rates by half point.
Speaker 2 (15:00):
Hmmm, half a point.
Speaker 5 (15:01):
I mean that helped Biden.
Speaker 2 (15:02):
But Steve, go back to.
Speaker 3 (15:03):
Your go back to your first point of the fact
that the FED Reserve has never been audited. Meanwhile, you me,
we the American taxpayer is well, depending on where you
work and how you work, you're you're audited on a
quarterly basis. Certainly we are annually on the heels of
tax Day. I mean, it's so infuriating, it's hard to believe.
Speaker 5 (15:24):
I mean, people don't believe me when I say that,
and they say all the Feds. Of course, it's it's
meticulously oversighted, you know, No, it's not. No one has
any idea what's going on in the FED except for
you know, these creatures, these swab creatures. Nobody knows.
Speaker 4 (15:42):
Nobody knows that.
Speaker 5 (15:43):
And Rand Paul is beating this drum too, and I'll
look at the look at the resistance. He gets the
same with his father, Ron Paul, just just mentioning it.
You'll get buried by the opposition, don't even suggest it.
Speaker 4 (16:00):
Think we better be looking over our shoulders this morning, Steve,
because the older brothers are going to be coming for us.
Speaker 3 (16:07):
He's in the Adirondacks this morning, streaming live via the
ihire radio app.
Speaker 2 (16:11):
I think so he's all right.
Speaker 4 (16:12):
Yeah, I appreciate it. No, I was not snatched. Well,
I'm in my pod, Steve, so I'm safe.
Speaker 5 (16:20):
I guess.
Speaker 1 (16:28):
Now Charleston's Morning News with Kelly and Plays.
Speaker 4 (16:33):
We appreciate you being with us on this Wednesday morning.
Country music icon Tim McGraw is joining the lineup for
Major League Baseball's Speedway Classic this summer. I will perform
a pregame concert before the Atlanta Braves and Cincinnati Reds
take the field at Tennessee's Bristol Motor Speedway. McGraw will
be joined by special guests for the performance. The game
(16:54):
will be playing to August second. More than one hundred
thousand fans are expected to attend the Speedway Class.
Speaker 2 (17:00):
That's not where you're headed, is it.
Speaker 4 (17:02):
No, I'm going to Talladegga this week.
Speaker 3 (17:04):
Oh fun. No Tim McGraw appearance, I guess no.
Speaker 4 (17:08):
Tim McGraw. I got the chance to meet him a
few years ago downtown at the Gilliard.
Speaker 3 (17:14):
Was that just by happenstance? You just ran it to
each other in the parking garage?
Speaker 4 (17:18):
Yeah? I bumped into him on the street.
Speaker 2 (17:20):
No, the I mean that could happened.
Speaker 4 (17:22):
He did what's the presidential historian's name, John Meacham. So
he did a John Meacham did a historical presentation where
Tim McGraw played period music to go along with the
presentation that John Meacham was doing on history. So Tim
(17:45):
McGraw played, you know, songs that would have been popular
at that point in history.
Speaker 2 (17:51):
That sounds like a lot of fun.
Speaker 4 (17:52):
Yeah. So it was fun and I got to meet
them both and politics aside. Both very nice gentlemen.
Speaker 2 (17:59):
Yeah. I was gonna say, it's politics.
Speaker 3 (18:02):
This is this is where I go back to, Oh
he's a liberal, Yeah, as a musician's or you know,
oh man, even sports. I just can't we have some
hands off somewhere when it comes to politics.
Speaker 4 (18:15):
Well, I mean, you know, I don't.
Speaker 2 (18:16):
Isn't there people They have their own opinions.
Speaker 4 (18:19):
Right, and you don't have to. He doesn't seem to
me like he inserts his opinion everywhere like a lot
of them do.
Speaker 2 (18:25):
But we do know, is my point, I guess.
Speaker 3 (18:29):
And you know, if you're smart, I mean, I just
I wouldn't want to alienate anybody in my audience if
I'm an artist, and that's all I'm saying.
Speaker 2 (18:37):
But for some people it works.
Speaker 4 (18:39):
Yeah. Well, I mean, you know, if you have any
kind of influence and you believe strongly in something, I
can see wanting.
Speaker 2 (18:48):
To alienate you have your audience.
Speaker 4 (18:52):
Well, I mean, what do we do?
Speaker 3 (18:54):
Yeah, but this is our job, Blase, We're not country
music stars.
Speaker 5 (18:59):
You know.
Speaker 3 (18:59):
It's the same I feel when I sit on the
board of any nonprofit. I'm like, don't pick a lane
in politics, stay out of it. You're alienating half your
donor dollars. I mean, it's just, well, this is common
basic sense in my mind.
Speaker 4 (19:10):
This is not the only thing that I do for
a living, and one certainly affects the other.
Speaker 2 (19:17):
So you know, what do you mean in real estate?
Speaker 4 (19:19):
Well, so I'm a realtor. So do you think that
there might be some liberals out there who are like,
I Am never going to use that guy that I
hear spearing his nonsense every morning?
Speaker 2 (19:28):
Maybe? So?
Speaker 4 (19:30):
Right, So is that smart of me to do as
a realtor? Probably not.
Speaker 2 (19:35):
Certainly a decision you've.
Speaker 4 (19:36):
Made, absolutely So, this is what I'm saying. So sometimes
you make the decision to go out on that plank.
Speaker 1 (19:46):
Thanks for listening to the Charleston Morning Use podcast. Catch
Kelly and Blaze weekday mornings from sixty nine
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