Ich muss zugeben, die letzten Monate haben mein Denken über "Bürokratie" verändert. ...

"Bürokratie" entsteht nicht als Selbstzweck, sondern um gesetzliche Vorgaben umzusetzen. Gesetzliche Vorgaben, bei denen demokratisch und mit Kompromissen um Gerechtigkeit und um einen Ausgleich gerungen wurde.

Bürokratieabbau heißt, dass es die Fürsprecher gerne einfach hätten.
Dass ihnen diese Kompromisse, die Gerechtigkeit und der Ausgleich egal sind.
Dass ihnen der Konsens und die Regularien beim Erreichen ihrer Ziele im Wege sind.

Vielleicht hat es auch sein Gutes, wenn Bürokratie träge und frustrierend ist. ...

#JeromePowell also said #Immigration has been a big reason growth has been so strong over the last couple of years.

The growth in the supply of #workers has stagnated, but so has demand for workers, as companies make cutbacks which is why unemployment is relatively stable.

Government layoffs are not yet measured enough to know effect on the #economy

#Car company #SupplyChains are likely to be disrupted for years.

#Fed #US #inflation #Trump #tariffs 🧵

#JeromePowell on federal #funding cuts:

With cutbacks in federal funding for #science, the #Fed is hearing of significant #employment impacts.

Cutbacks to #university & #research funding are causing significant impacts in some cities; it could have longer-term effects on productivity.

#US #economy #Trump #policy 🧵

#JeromePowell said that #trade policies pursued by the Trump admin will create challenges for the central bank to meet its #job & #inflation mandates this year.

The new trade policies represent significant change.

"The effects of that are likely to move us away from our goals, so #unemployment is likely to go up as the #economy slows in all likelihood, & inflation is likely to go up as #tariffs find their way" into the economy.

He added this will likely play out over the course of the year.
🧵

#JeromePowell says #Fed could have to make a difficult decision.

The Fed's 2 goals are not yet in tension, but the potential is leading to simultaneous higher #unemployment & higher #inflation.

The tension between employment & inflation goals would be a difficult position for the Fed to lower rates.

#US #economy #Trump #policy #JeromePowell #Fed #US #inflation #tariffs 🧵

#JeromePowell said #markets are processing the #policy changes, but they are functioning.

"What I think is going on in markets is markets are processing what's going on, markets are struggling with a lot of #uncertainty & that means #volatility.”

He also said that volatility is likely to continue given the high uncertainty.

#US #economy #Trump #Fed #US #inflation #tariffs 🧵

The #Federal is ready to provide #dollar liquidity through its swap lines w/other central banks as needed, #JeromePowell said.

"We want to make sure that dollars are available.”

"The reason we do it is it's really good for US consumers, so we'll do that just as part of the dollar being a reserve currency.”

Reserves are still abundant

Not close to where Fed would stop balance sheet runoff

The slower the Fed goes, the smaller the balance sheet can get w/o disruption

#economy #Trump 🧵