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Big League Economics

WSJ reports Trump picks new leader for Federal Reserve: Who is Jerome H. Powell?

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The Wall Street Journal reported Wednesday that President Donald J. Trump plans to nominate Jerome H. Powell to succeed Janet L. Yellen, the current chairwoman of the Federal Reserve Board of Governors.

According to the WSJ:

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

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The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn’t describe what they discussed.

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Mr. Trump had settled on Mr. Powell by Saturday, but people familiar with the process had cautioned that he could change his mind. The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday.

Powell, a graduate of Princeton University and Georgetown Law School, was nominated to the board in 2012 by President Barack Obama, but he is considered a Republican, having served as both the assistant secretary and as undersecretary of the Treasury under President George H.W. Bush.

At Georgetown Law, he was the editor-in-chief of the Georgetown Law Journal.

His business career, Powell worked as an investment banker and attorney. From 1997 to 2005, he was a partner at The Carlyle Group, a private equity firm. Before his joining the Federal Reserve Board, Powell was a visiting scholar at Washington’s Bipartisan Policy Center.

A resident of Chevy Chase, Maryland, Powell is married with three children.

 

Big League Economics

Goldman Sachs Claims Forcing Americans to Wear Masks Would Save U.S. Economy $1 Trillion

Multinational corporations want Americans to submit to the virus regime.

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Corporate titan Goldman Sachs has produced research that contends the U.S. economy would save five percent of GDP, or $1 trillion, due to a national mask mandate using federal force to make people wear masks.

“If a face mask mandate meaningfully lowers coronavirus infections, it could be valuable not only from a public health perspective but also from an economic perspective because it could substitute for renewed lockdowns that would otherwise hit GDP,” the researchers wrote.

Goldman’s analysts claim that forcing people to wear masks at the federal level would impact states like Florida and Texas, where masks are not mandatory, and “meaningfully” increase mask usage nationwide. Even though the mandate would be grossly unconstitutional, Goldman apparently believes that the ends justify the means.

They estimate that a mask mandate would increase mask usage overall by 15 percent and cut the daily growth of new coronavirus cases by between .6% and 1%. Goldman is fueling the false dichotomy where the public must to accept either a strict mask mandate or a Draconian shutdown of society. They claim that the next lockdown would take an additional $1 trillion out of the economy.

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Former Vice President Joe Biden, who is attempting to unseat President Trump in November, has stated that he would use federal power to force Americans to wear masks.

“Yes, I would—from an executive standpoint, yes, I would . . . I would do everything possible to make it a requirement that people had to wear masks in public,” Biden mumbled last week.

The stage has been set for round two of the coronavirus panic to cripple society, even though the establishment has been encouraging Black Lives Matter pogroms against white people simultaneously.

Big League Politics has reported on the so-called experts as they have kept the fear propaganda going despite the immense hypocrisy:

The Centers for Disease Control and Prevention (CDC) are continuing their fear-mongering about the coronavirus pandemic, desperately trying to dissuade Americans from living their lives.

“Right now, communities are experiencing different levels of transmission occurring, as they gradually ease up onto the community mitigation efforts and gradually reopen,” the CDC’s deputy director for infectious diseases, Jay Butler, said to reporters during a press briefing on Friday.

“If cases begin to go up again, particularly if they go up dramatically, it’s important to recognize that more mitigation efforts such as what were implemented back in March may be needed again,” he added.

Butler emphasized that the “pandemic is not over” and urged localities to re-institute Draconian shutdown policies based on “what is happening within the community regarding disease transmission.”

The CDC has displayed an extreme amount of incompetence throughout the pandemic, which has destroyed their credibility and made them into a national laughingstock.

The establishment will never allow normalcy to return. The Orwellian nightmare, enabled by COVID-19 hysteria, is here to stay.

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