- 6 months ago
- #theyoungturks
- #breakingnews
- #tyt
TYTurks News Channel #TheYoungTurks #BreakingNews #TYT
Trump and Jerome Powell got into a heated back-and-forth Thursday about how much the Fed’s headquarters renovations should cost—with cameras rolling the whole time. Cenk Uygur, John Iadarola, and Wosny Lambre discuss on The Young Turks.
"President Donald Trump and Federal Reserve Chair Jerome Powell bickered over the cost of renovations to the Fed’s headquarters in Washington, D.C. in front of cameras as the two toured the site on Thursday.
The squabble comes amidst Trump and Powell’s ongoing feud, which has mostly consisted of the former lambasting the latter over his job performance, and in particular his reticence to lower interest rates.
Earlier this month, it was reported that Trump would fire Powell in short order. Trump denied as much, but didn’t let the opportunity to insult his own appointee pass."
TYT is the largest online news network in the country. It presents news, context and analysis. We have dozens of on-air hosts on half a dozen major channels on almost all the platforms. We also have a live 24-hour news channel that features all our shows.
The Young Turks is the flagship show of the TYY Network. The Young Turks is the longest running daily show in internet history. We’re about to celebrate our 20th anniversary as a digital native show.
On the network, we do things a little differently than other places. We present the news first, with all of the facts and context you need, which is a rarity in commentary-heavy online shows. We then also give analysis and perspective, which is rare in traditional news.
Our commentary and perspective are almost always on the left, but we have an enormous range of opinions on the network. Hosts are allowed to think and say whatever they like. Perspectives usually range from the far left to the center of the political spectrum.
TYT emphasizes open-minds and open-hearts. We believe in fighting for the average American. We believe in challenging the powerful. We are vigilant about pursuing the truth to the best of our abilities and for always being honest with our audience. We’ve been proud to serve the internet for longer than any other news show or network. As one of the founding fathers and mothers of online media, we have always believed that digital media would become the dominant news source for all Americans. We’re thrilled that day is here and that TYT is where everyone can come to see The Online News Network.
#TYT #TheYoungTurks #BreakingNews
Trump and Jerome Powell got into a heated back-and-forth Thursday about how much the Fed’s headquarters renovations should cost—with cameras rolling the whole time. Cenk Uygur, John Iadarola, and Wosny Lambre discuss on The Young Turks.
"President Donald Trump and Federal Reserve Chair Jerome Powell bickered over the cost of renovations to the Fed’s headquarters in Washington, D.C. in front of cameras as the two toured the site on Thursday.
The squabble comes amidst Trump and Powell’s ongoing feud, which has mostly consisted of the former lambasting the latter over his job performance, and in particular his reticence to lower interest rates.
Earlier this month, it was reported that Trump would fire Powell in short order. Trump denied as much, but didn’t let the opportunity to insult his own appointee pass."
TYT is the largest online news network in the country. It presents news, context and analysis. We have dozens of on-air hosts on half a dozen major channels on almost all the platforms. We also have a live 24-hour news channel that features all our shows.
The Young Turks is the flagship show of the TYY Network. The Young Turks is the longest running daily show in internet history. We’re about to celebrate our 20th anniversary as a digital native show.
On the network, we do things a little differently than other places. We present the news first, with all of the facts and context you need, which is a rarity in commentary-heavy online shows. We then also give analysis and perspective, which is rare in traditional news.
Our commentary and perspective are almost always on the left, but we have an enormous range of opinions on the network. Hosts are allowed to think and say whatever they like. Perspectives usually range from the far left to the center of the political spectrum.
TYT emphasizes open-minds and open-hearts. We believe in fighting for the average American. We believe in challenging the powerful. We are vigilant about pursuing the truth to the best of our abilities and for always being honest with our audience. We’ve been proud to serve the internet for longer than any other news show or network. As one of the founding fathers and mothers of online media, we have always believed that digital media would become the dominant news source for all Americans. We’re thrilled that day is here and that TYT is where everyone can come to see The Online News Network.
#TYT #TheYoungTurks #BreakingNews
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PeopleTranscript
00:00We're just taking a look at what's happening. It's a tough construction job there. It looks
00:05like it's about 3.1 billion. It went up a little bit or a lot. So the 2.7 is now 3.1.
00:13I'm not aware of that.
00:14Yeah, it just came out. Yeah, I haven't heard that from anybody.
00:18My God, that's so amazing. I love a person who doesn't give a damn about Donald Trump
00:24or whether he has a problem with the way you're responding to him. That being, of course, the
00:28chairman of the Federal Reserve, Jerome Powell, who, when Donald Trump pulled out that number
00:32to make it seem as if, maybe he's got some sort of excuses we'll get into to get rid of Jerome Powell.
00:37Jerome Powell's like, no, that's not true. And we're going to go to a little bit more
00:41of the reaction before, we'll give you all the details, don't worry.
00:44I haven't heard that from anybody in the Fed.
00:47Yeah, it just came out.
00:51Our notes had about 3.1 as well. 3.1, 3.2, this came from us?
00:56Yes, I don't know who does that.
01:01You're including the Martin renovation, you just added-
01:03That's on the entire capital plan.
01:04Yeah, you just added in a third building is what that is.
01:07That's a third building.
01:08Well, I know, but it's a building that's being built.
01:10No, it was built five years ago. We finished Martin five years ago.
01:14It's part of the overall work.
01:16So we're going to take a look.
01:20That is literally me every time I listen to Donald Trump speaking.
01:36No, what are you talking about? I love to see it.
01:39And Donald Trump's little defensive body language.
01:42I was like, no, it just came out, you wouldn't know.
01:46And then the dude whips out his glasses instantly identifies the source of the lie
01:50that Tim Scott is pretending is true there.
01:54He's like, no, no, no, you're just adding in another building.
01:56And then Trump's like, don't worry about it.
01:58It still counts.
02:00No, it was already built like five years ago.
02:02It was so good.
02:03Waz, you sound like you want to jump in.
02:06No, it's just perfect.
02:08It's just Donald Trump trying to make a show of things. And Jerome Powell is kind of a mini
02:16king unto himself, right? He is pretty insulated in the sense that the people who own our freaking
02:24economy, the Wall Street people are completely loyal to the guy. And if Donald Trump did anything,
02:32the markets and all of this stuff would go into a complete panic. Remember when he panicked about
02:37the bond market after his stupid crazy tariffs. Jerome Powell knows that he's insulated from that
02:44because Wall Street has his back. And so he can go on TV and be like, this guy is full of crap.
02:49It's quite amazing. Yeah, so when I first saw it, I thought it was AI.
02:55I'm like, wait, they're together because Trump's been insulting him nonstop.
03:01So I was already surprised that they were together. And then in those funny hats, right? In fact,
03:07our poll question, this is one of my favorite poll questions in the live chat.
03:10Who wore the hard hat better? Trump, Powell, or none of the above?
03:15Okay, so watch the show live, be part of the show, you crazy, 6 to 8 PM every day.
03:20All right, so what do we get? Powell, Powell, nice.
03:24Chuck got 10. Okay, so he also reminded me of Dave
03:28Kohler if you're an old school TYT fan, right? Okay, he's one of the founders here.
03:33He said he looks like Dave Kohler in the control room in the old days.
03:38While I'm talking. As you're speaking.
03:41Yeah, while I'm talking, no.
03:42No. Anyway, that was one of the funniest clips I've ever seen.
03:47And you know what, just when you thought the Federal Reserve couldn't be funny.
03:50Yeah, these guys get comedy. By the way, I'd love to see the poll on the Ghislaine Maxwell
03:55pardon. I want to find out what the audience thinks. But we throw a lot of numbers around. What is all this
03:59about? Why would Donald Trump take time out of when he could be dodging questions about Epstein
04:04to hang out with a guy that he hates, too late Jerome Powell? Well, they were touring the renovation
04:09site at the headquarters of the Federal Reserve, where over the years, the price of the renovations
04:16has gone up. That is true. It's just that what Donald Trump was throwing out was based on
04:21a complete misunderstanding of which buildings have been built and how much it costs and all that.
04:26And in defense of Donald Trump, he can't be expected to understand stuff about construction.
04:30But anyway, so why would they care about this? What's the point of it? Well,
04:36Donald Trump wants to fire Jerome Powell. He wants to put in somebody who will do whatever
04:40he says like he has already done across the rest of the federal government because he wants to
04:44juice the economy in terms of interest rates. Even if long term that might not be in the interest of
04:51our economy or businesses or regular people or whatever. He doesn't care. He wants to do whatever he
04:55needs to do to make it look good right now, okay? Especially if he can capitalize on it,
04:59either economically or politically. The issue is that the Supreme Court
05:03recently signaled that Trump can't fire Powell simply because he disagrees with him
05:07on interest rates, but that legally he could do so for cause.
05:12So if there was misconduct or dereliction of duty, or if you felt like you could pin,
05:18I don't know, a half billion dollars in cost overruns on the Federal Reserve headquarters on him,
05:24then maybe that would count. Again, it doesn't seem to be based on anything,
05:27and I don't understand how you could possibly claim that that was Jerome Powell's fault.
05:31But at this point, he looks like he wants some sort of fig leaf, some sort of excuse
05:37that could justify getting rid of him. Feel free to jump in.
05:42Yeah, just real quick, guys. Look, the problem with Trump is, I always think,
05:48be careful what you wish for, right? Because if in the middle of a hot economy,
05:52you lower interest rates, you might get back to skyrocketing inflation, let alone the fact that
05:57if the tariffs ever come into effect, they're supposed to be August 1st, probably delay those,
06:02whatever, right? If they ever come into effect, and you cut interest rates, and it was a hot market
06:07in the first place, good night, Irene, with inflation. So he's so simple minded, yes,
06:13interest rates, if you lower interest rates, generally the economy does better,
06:17unless you're worried about inflation. But he doesn't bother reading the unless part, right?
06:23So he keeps pressuring and pressuring, and in a lot of ways, Jerome Powell's doing him a huge
06:29favor by saying no. And he's done a pretty good job of shepherding this. One of the members wrote in,
06:34it's the best Trump appointment, and there's a lot of truth to that. And he actually navigated
06:39inflation during the Biden administration. I know that it was a huge issue, and it really
06:45hurt the Democrats so much. But the rest of the world was worse off than we were,
06:49and Powell did an interesting and decent job of maintaining inflation in a place where it did
06:54not get crazy out of control. Yeah.
06:56So, but if you get a political guy interfering nonstop, it's gonna make it worse, not better.
07:02And Donald Trump has already telegraphed exactly what he's thinking about this,
07:06when under Joe Biden, he claimed that Biden would put pressure on the Fed to lower interest rates,
07:12to help himself out politically in the short term.
07:14That's literally what he said about Biden, and literally what he's doing now.
07:17Exactly. It's called projection.
07:19Let me just read this one message that he put out after that meeting, and then we can discuss some
07:23more. Trump said this on True Social, the cost overruns are substantial. But on the positive side,
07:30our capital C country is doing very well, and can afford just about anything,
07:34even the cost of this building. Let's just get it finished, and even more importantly,
07:39lower interest rates. And I learned a lot from that. Apparently, our country can afford
07:45just about anything. So I suppose we don't have to do all the firings Elon Musk wanted. We can hire
07:50back all those people working on bird flu and air traffic controllers. And we can restore the funding to
07:55NPR and PBS because we can afford just about anything. And there's no reason, certainly no
08:00justification to throw 12 million people off of Medicaid if our pockets are about to burst
08:04from all the cash that's overflowing from them. I mean, you cannot do austerity for everyone other
08:10than the hyper rich, and then come out and claim that everything is so fantabulous that we have money
08:15for anything that possibly comes up, okay? You're trying to argue that there should be these massive cuts
08:20at the same time you're giving tax cuts to the wealthy. It's just that the math doesn't math.
08:24Yeah, was. I mean, again, all he wants is a lower interest rate.
08:33I actually think there's an argument to be made that the president should have more authority over
08:40monetary policy. Obviously, I can understand why people want to tell me to shut the hell up while
08:46Donald Trump is our president. Perhaps if we had a more, let's say prudent and responsible president.
08:53I think it'd be completely fine and in line with what people have elected this guy to do
08:58for him to take that under his control. But I think the problem for Trump again,
09:03and I got to reiterate this, Jerome Powell's power comes from the trust that he has from the owners
09:11of our economy. The people on Wall Street, the people that own the financial sector,
09:18they have way more trust in Jerome Powell's ability to navigate these times with monetary policy
09:28than they do Donald Trump. And how can you blame them?
09:31Yeah, 100%. And look, I've got my own concerns about the Fed's governance and independence.
09:36But at times like this, I think, well, maybe they should be independent.
09:41And related, people always throw around these other organizations that are supposed to be like,
09:47the norm is that they're semi-independent, like the DOJ or whatever. At times like this, I think,
09:52maybe we should make that written down. Maybe that should be a rule rather than a norm.
09:56Every time you ring the bell below, an angel gets his swings.
10:00Totally not true, but it does keep you updated on our live shows.
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