The Federal Reserve Twerking With The Bureau of Labor Management

Jerome Powell

Jerome Powell is claiming he will refuse to step down from his 4 year gig under Biden as the Federal Reserve Chair.  The fact that the Federal Reserve is ‘independent’ is nonsensical given the Chair and Board of Governors are appointed by The President.  It is a term limit position.  If he refuses to leave, he will be escorted out by Security. 

The Federal Reserve Act was signed into law in 1913 by President Woodrow Wilson, designed to create an overseer of the 12 banking districts.  To assure compliance with Federal regulations.  This assurance was extended in 1933 via the FDIC which insures deposits up to $250,000 per member bank.  The FDIC budget is roughly $2 billion – their available fund balance is a mere $129 billion.  This is why they encourage/force other banks to pick up the trailings of a bank when they report bankruptcy.  The FDIC doesn’t have enough funds to insure more than 516,000 accounts.

They are like FEMA bragging about their $750 per household to cover their expenses after a disaster.

Jerome Powell:  A lawyer with an an investment background which includes the Carlyle Group, Powell was confirmed to a second term May 2022.  Chair terms are four years.  Technically, he could refuse to step down but there are round about solutions the largess being his Chairmanship Affiliation with the Bank of International Settlements (BIS).  A conflict of Interests.  A President Trump could challenge that this continued affiliation is prohibited and that as a direct result Powell’s ability to represent America has been compromised.  This would be classified as the ‘cause’ for removal.

At this point Powell could sue for his salary using his own funds for legal representation, but the Board of Governors could assume his roll in the event he decided to sue revealing he is 'nonessential'.  A lawsuit could take years and simply be a waste of time and effort.    

The Federal Reserve bases its monetary policies on data and information provided by the Bureau of Labor Management.   They provide the employment data.  The civilian noninstitutional population is based on everyone over 16 who is not residing in a prison, mental institution or old folks home.  Employed persons includes everyone receiving wages, self employed, unpaid family workers, including anyone who worked even 1 hour per week.

Already, the skew is evident in determining ‘employed’ which directly affects monetary policy regarding Inflation.   Civilian unemployment is based on those actively looking for employment. 

For example, per BLM:   Oct 2023  - noninstitutional white population was 204,867,000.  62% were considered the labor force or 127,686,000.  Employed was 123,623,000 leaving 4 million unemployed but 81,244,000 not working.   Oct 2024 – noninstitutional white population was 205,444,000.  62% participation rate, the labor force was 127,820,000 leaving  4.5 million unemployed but 77,624,000 unemployed.   The Labor force grew by a whopping 66,000 for the entire year!   The black labor force for the same period fell 182,000.

These are the funny numbers the Federal Reserve uses to run America’s Banks and Economy.   These are the numbers Powell used to increase the Fed rate and drive the mortgage business and housing market into the ground.   To Increase Inflation.  To HURT the US Economy.   I would think this would be sufficient to claim the entire Board of the Federal Reserve are grossly incompetent – including BIS employee – Jerome Powell.

This is an algorithm feed.  It is based on a ‘Household Survey’ sample fed into a template to extract numbers.   It is easier to use algorithm’s because the template can be tweaked a percentage point, the survey populace can be tweaked, etc…  The sample size is claimed to be 60,000 – they are paid to participate.  The same sample is used for ‘a set number’ of  months.  Unmentioned.  They were considering lowering the sample size to save money.   

The method of choosing the sample is based on the Census which includes illegal immigrants.   And the last time the survey data was modified was April, 2018.

The Federal Reserve Board members know this.   The BLM and BLS know this.   All data samples are corrupted.