Donald Trump said he will fire Federal Reserve Chair Jerome Powell if he does not step aside when his term expires next month.
Powell’s tenure as chair expires on May 15. Trump’s pick for a replacement, Kevin Warsh, has yet to be confirmed by the Senate and the full chamber. That leaves the potential for Powell to remain in place as chair “pro tempore,” per Fed regulations.
Powell confirmed at a press briefing in March that if Warsh isn’t confirmed by the Senate by May 15, Powell would remain as Fed chair “pro tem” in the interim. “That’s what the law calls for. That’s what we’ve done on several occasions,” Powell said at the time.
No, I’m afraid in this case he will 100% do it. See, Trump thinks that you can magically control the economy by lowering the Fed funds rate and quantitative easing (money printing), and has zero understanding of the complex interplay and limitations that the Fed deals with. Moreover, his policies are crushing the economy, and he has a midterm election to deal with in the fall, which will be the beginning of the end of his presidency if things continue as they are. In his mind, he gets rid of Powell, has his lackeys juice the economy with low rates and QE, there is a massive boom in the markets and along with his strategies rig the elections, the GOP gets the push it needs to prevail and the Trump presidency rolls on. The downside for anyone who cares to see it is that the dollar will be destroyed as the world’s reserve currency, the U.S. will suffer hyperinflation like prewar Germany, and the subsequent fix will require austerity measures that will lead to depression that will make the one in the 1930s look quaint (I’m calling it “The Greatest Depression”), worldwide economic output will be crushed, WWIII will come into full swing with the U.S. the weakest it’s been in my lifetime, and in all likelihood, China will rise to the top of the world order and the yuan will be the world’s reserve currency. Mark my word, we will see gold top $8K this year, and might reach as high as $20K. There is a reason I expanded my exposure to to the gold market and put everything I had left into a 2X gold ETF back in June of 2024 when it became clear to me that Trump would likely win a second term. We’re definitely living in interesting times.
the ding dang dudily depression.
Trump is gonna speed run the demise of the American dollar and economy because he thinks he’s gonna come out richer.
You idiot, 2x ETFs have constant drag. Dump that shit and buy futures.
Trump Only Fucks Up
I could not imagine a dumber possible move than trying to lower interest rates when gas is this high, wtf
Everything Trump does makes perfect sense if you assume his goal is to destroy the United States.
“I’ll destroy them for what they made me do to you, my wonderful Jeffery who gave me everything.”
its a common idiot move. see turkey and zimbabwe and ww1 germany.
The man has an economics degree from an ivy league university, he knows what he’s doing! /S
Hasn’t it already been made clear he can’t fire this guy ?
He can’t do a lot of the stuff our wonderful federal government are letting him do.
That’s true.
Well, when the “checks and balances” are all partisan bootlickers gargling his balls…
Yeah, but he’s delusional
you think these people know that?
If he fires him it’s just proof sleepy Joe should have used the fucking shellfish toxin dart on him, and his whole brood.
powell’s just a public face muppet to make it look like the fed is accountable to someone. they’re not. yea, congress could change laws to limit their power, but they never have and they never will. i adore the fact that trump throws toddler tantrums over not being able to touch the fed
Sure would be useful if SCOTUS could rule on this now before it’s an issue, fucking pricks
Wannabe dictators hate being told the truth. Doubt any of the people Trump surrounds himself with does that…
one of the last bits of the federal government with somewhat useful data.
Setting yourself deadlines in a negotiation/standoff can only ever worsen your bargaining position. He did it with Iran too.
No, he won’t.
Who thought a asshole like Powell is at odds with a asshole like trump? Two unfeeling childish narcs not getting along. Never happened before. /s
Shit! What happened to Stephen Colbert! He looks old in that picture! Like he went into an Indiana Jones adventure and a creature sucked the life out of him!
