Every American should want an independent Fed
San Francisco: President Trump is threatening a hostile takeover of the Federal Reserve, having issued social and mainstream media broadsides against the independence of Chairman Jerome Powell. If Trump were successful in removing him, it would be unprecedented. Despite inevitable disagreements, the executive branch has historically respected the independence of the Federal Reserve.
Powell has stated that its independence is a “matter of law.” And he has vowed to keep “inflation expectations well-anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem.” He has stated many times that he would make decisions independent of political pressure.
Trump’s reciprocal trade tariff policy — termed Liberation Day — has wreaked havoc on the global financial marketplace since it was adopted on April 2. The Federal Reserve is in heightened alert mode, as it endangers the market place in multiple ways: risking a global slowdown in economic activity, erosion of confidence in the dollar as a reserve currency, heightened global inflation and a deep global recession. The U.S. dollar lost approximately 10% of its value against a basket of global currencies since the trade wars started, undermining U.S. buying power and causing a significant increase in long-term government bond interest rates.
Take away the stabilizing power of the chairman and his board of governors — the most respected, influential, objective arbiter of economic forces in the world — and show it to be capable of manipulation by any president and we have the recipe for global financial disaster. Bruce Farrell Rosen
Chicken Littles
Queens Village: Again, we read and heard that the sky was falling when the tariff policy was proposed by Trump. The market took a nosedive and of course it was an opportunity to blame him. However, as in the past on so many other matters, Trump comes out fine. The markets are back up with things looking promising as the president predicted. Every time there is a negative article about Trump, due to the fact that there are so many over the past eight years, and the fact that Trump pretty much ends up being right, I take it all with a big grain of salt. Frank Barnett
Already abandoned
San Francisco: Voicer Wallington Simpson asks, “If radical Islam and its Sharia law succeed, do you think you will still have freedom of speech and due process?” Well, if Trump can deport people just for expressing their opinion, then freedom of speech and due process are already a thing of the past. Jimmy Layton
Bound to happen
Lake Katrine, N.Y.: Brace yourselves, America, the worst is yet to come! Next Election Day, when allies of that illiterate buffoon in the White House are overwhelmingly defeated by a principled electorate, he will once again whine, “Foul! Conspiracy! Rigged election!” He’ll spout every lie in his arsenal of endless lies while exhorting his enablers to “fight like hell.” And those maggot-head simpletons will jump to his whistle, which will incite a civil backlash again resulting in bloodshed and death. It’s gonna happen, sure as eggs are eggs. Fredrick Washam
Widely reported
Bronx: To Voicer Diane Doberman: The essential fact you continually fail to acknowledge in your frenzied missives is that you lost. If you’re upset that I referred to Trump’s victory as “overwhelming and decisive,” it might interest you to know that I’m not alone. Former Biden White House Communications Director Kate Bedingfield said in Newsweek that Trump’s victory was a “thorough shellacking.” On “All Things Considered,” NPR said, “What happened in the 2024 election was a political earthquake. Trump not only won in the Electoral College, but he won so big that he extended his coalition with historic demographic shifts.” Politico called it a “resounding victory,” while AP reported, “Donald Trump scored a decisive victory in a deeply divided nation.” Apparently, they’re MAGA propagandists, too. Charles T. Compton
Not his future
Manhattan: I am getting awfully tired of hearing about all the negative prognostications regarding climate change. The reason Trump couldn’t care less is simple: He doesn’t plan on being around in the next 50 years, much less next term. Those who ought to be most concerned about climate change are the people who expect to be around and their children. If you are of voting age and choose to spend your time pursuing trivial pursuits, don’t come looking for me. I may have a good 10 years left thanks to my educated peers who cared enough to do their civic duties. Aydin Torun
Christ’s path
Hamden, Conn.: In his time, religious leaders condemned Jesus for dining with sinners and the poor and for helping and healing the sick. As the “people’s pope,” Pope Francis followed the example of Jesus. We were very fortunate to have him. Patricia G. Santacroce
Informed electors
Staten Island: To Voicer Mark Alesse: Popes have been elected by a two-thirds majority vote of the College of Cardinals within a conclave since 1274. Who do you think you are to criticize a method that has worked for more than 700 years? Calling someone’s religion a Vegas magic trick is insulting to Catholics around the world. And as far as letting the people weigh in, the people are not aware of the qualifications of each and every cardinal. The College of Cardinals is much better informed, and therefore much better qualified to vote than the average Catholic. Eileen Zanelli
Return to doctrine
Belvidere, N.J.: On the surface, Voicer Mark Alesse seems to have something plausible. Without saying it directly, Mark wants Catholic laity to vote democratically for a pope the same way America votes for a president. Generally, citizens voting for a president is ideological, and Catholic laity voting for a pope should be theological, but there are foreseen problems. Trust me, the Catholic Church is filled with theologically ignorant adherents and hangers-on. Theologically ignorant is almost exclusively what I’ve encountered over the decades. We have enough problems with modernistic cardinals rising in the ranks. They voted for Pope Francis, who was the king of doctrinal confusion. The Catholic Church needs to return to clear traditional doctrine that ignores the modern trappings of today’s world. Dan Arthur Pryor
Big-tent theology
Cincinnati: Trumpers are unhappy with the pope again. This pope loves all people, not just white, heterosexual Christians. Mark Jessee
Turned away
Bronx: Re “Episcopal Church won’t resettle white Afrikaner refugees in U.S.” (May 12): Rev. Will D. Campbell, a Southern Baptist minister, helped integrate lunch counters in Nashville, Tenn., organized Freedom Rides in Mississippi and escorted Black students through a hostile mob into Little Rock’s Central High School. For all of this, he was the object of death threats from white segregationists and the KKK. He still reached out as a pastor to those same Klan leaders, angering his civil rights allies. Campbell insisted that, like Jesus in the New Testament, “If you’re gonna love one, you gotta love ’em all.” There is a powerful lesson here for the Episcopal Church and anyone who calls themselves a disciple of Jesus Christ. Gene Roman
Bigger story
Scarborough, N.Y.: How bad are things in New York City and at the Daily News when an innocent 16-year-old high school girl is killed by an errant gunshot near a schoolyard in the middle of the day and The News buries the horrific story on page 22? Shame on you. Thomas F. Comiskey
Deserved shame
Whitestone: Why does the Daily News report on horrific animal abuse cases as you did in Sunday’s edition (“Dog house of horror,” May 11) without identifying by name and address the pond-scum, subhuman entity that caused this massive pain and suffering? It should not matter whether this individual is mentally, physically and/or emotionally challenged or just plain crazy. These people must be called on the carpet to pay severe consequences for their actions. Six months on Rikers Island sounds about right! But this being the largest city in the U.S. rife with corruption, this imbecile will simply get a slap on the wrist, only to start the same horrors at another location. Please stop printing these stories until you identify the perpetrators. Pat DeMarco
