The presidential elections are in November 2024. I believe the pivot will come sooner. US CPI is already going down.
Also, all of the current governors were appointed by the current president and Senate. Yet, they've been aggressively tightening despite the potential to benefit the GOP in yesterday's midterms.
Campaigning for 2024 will start in mid-2023 - they have incredibly long cycles, it is like they hardly spend any time between inauguration and next campaign, doing anything. So yes, it will start sooner.
These are mid-terms. They are chosen by the president - the next president. If they blow their load now, they will be unable to recover for a run at 2024, where it actually matters.
"The Chair and Vice Chair of the Board are also appointed by the President and confirmed by the Senate, but serve only four-year terms. They may be reappointed to additional four-year terms. The nominees to these posts must already be members of the Board or must be simultaneously appointed to the Board."
These are important roles and they are appointed by the current president.
Absolutely.
The presidential elections are in November 2024. I believe the pivot will come sooner. US CPI is already going down.
Also, all of the current governors were appointed by the current president and Senate. Yet, they've been aggressively tightening despite the potential to benefit the GOP in yesterday's midterms.
https://en.wikipedia.org/wiki/Federal_Reserve_Board_of_Governors
Campaigning for 2024 will start in mid-2023 - they have incredibly long cycles, it is like they hardly spend any time between inauguration and next campaign, doing anything. So yes, it will start sooner.
How could they not have tightened this year with rampant CPI?
Yes, they had to, because of incredibly poor global economic decisions over the last 2 years which is largely the cause of the inflation.
These are mid-terms. They are chosen by the president - the next president. If they blow their load now, they will be unable to recover for a run at 2024, where it actually matters.
Four of them have their terms end in the 2030s.
"The Chair and Vice Chair of the Board are also appointed by the President and confirmed by the Senate, but serve only four-year terms. They may be reappointed to additional four-year terms. The nominees to these posts must already be members of the Board or must be simultaneously appointed to the Board."
These are important roles and they are appointed by the current president.