Trump's next target: Jerome Powell, chair of the Federal Reserve

[Anonymous]

Yet another example of Trump trying to flex his power. The Federal Reserve is designed to be independent from political pressure, and the Chair serves a four-year term, which can be renewed. While the president appoints the Chair (with Senate confirmation), the president cannot unilaterally remove the Chair simply for policy disagreements. No other president has ever so publicly tried to remove a Fed chair. This is another red line Trump is crossing.


President Donald Trump has called for the "termination" of Federal Reserve Chairman Jerome Powell in a dispute over interest rates, cutting across the political independence of the U.S. central bank. Trump thinks the Federal Reserve should cut interest rates more quickly than it is to help fuel economic growth, but rate-setters are juggling the impacts of his tariffs, which threaten to push inflation higher, a situation that cutting rates would worsen.

The Federal Reserve's decision-making is supposed to be free from political interference so it can make calls it believes are right for the country and the economy rather than in the interests of presidents or lawmakers.

Trump Demands 'Termination' of Fed's Jerome Powell
https://www.newsweek.com/trump-demands-termination-fed-jerome-powell-rates-2060933

[Anonymous]

Trump is Captain of his own Titantic. May he go down with the ship he is dragging us all down with.

[Anonymous]

With the Trump administration running roughshod over the Constitution, I do not think that the SC will overturn Humphrey's Executor. Between that and the cases involving injunctions, I think even the right wing of the Court will act to reign him in . . . not because the right is particularly principled, but they do like their power and won't rule themselves into irrelevancy.

[Anonymous]

Who do we think he'll nominate from his band of looney toons in 2026, if Powell makes it that long?

My shortlist:
Dave Portnoy
Dana White
Omarosa
The Zuck

[Anonymous]

Omg I almost have a panic attack thinking what incredibly unprofessional and inappropriate Fed Chairman is next.

I am surprised there hasn’t been more discussion of the Trump administration’s move to “change” short term government bonds into long term bonds. This is unbelievable! He is going to seriously f**k up our economy, like 2008 kind of problems. (Like when GE and McDonalds announced they couldn’t make payroll-kind of nightmare)

[Anonymous]

Anonymous wrote:Omg I almost have a panic attack thinking what incredibly unprofessional and inappropriate Fed Chairman is next.

I am surprised there hasn’t been more discussion of the Trump administration’s move to “change” short term government bonds into long term bonds. This is unbelievable! He is going to seriously f**k up our economy, like 2008 kind of problems. (Like when GE and McDonalds announced they couldn’t make payroll-kind of nightmare)

Can you tell us more about this? In layman terms?

[Anonymous]

Trump would pick someone who will try to revert to the gold standard. Someone from the Austrian School or a hard core libertarian.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Omg I almost have a panic attack thinking what incredibly unprofessional and inappropriate Fed Chairman is next.

I am surprised there hasn’t been more discussion of the Trump administration’s move to “change” short term government bonds into long term bonds. This is unbelievable! He is going to seriously f**k up our economy, like 2008 kind of problems. (Like when GE and McDonalds announced they couldn’t make payroll-kind of nightmare)

Can you tell us more about this? In layman terms?

He has talked about issuing 100 year bonds and refinancing the current 10 and 30 year bonds as such. No one will want a 100 year bond. It would be a thin market at best.

[Anonymous]

Here is an article from 2019 when Trump was contemplating firing Jerome Powell in his first term. I didn’t think it was legal, but it sounds like it could be in a gray area. It could result in an Avignon papacy where there are two people supposedly in charge of the fed. At the time of this article, the assumption that our elected officials and scotus were rational actors and would not imperil our country, and Powell would not be fired. I don’t think that’s the case in 2025.

https://www.brookings.edu/articles/what-happens-if-trump-tries-to-fire-fed-chair-jerome-powell/

[Anonymous]

If Powell is removed, our country is literally doomed. There is no one more important to remain any guardrails on our economy.

[Anonymous]

Anonymous wrote:With the Trump administration running roughshod over the Constitution, I do not think that the SC will overturn Humphrey's Executor. Between that and the cases involving injunctions, I think even the right wing of the Court will act to reign him in . . . not because the right is particularly principled, but they do like their power and won't rule themselves into irrelevancy.

The legislature seems pretty happy to give up their power.

[Anonymous]

Anonymous wrote:Who do we think he'll nominate from his band of looney toons in 2026, if Powell makes it that long?

My shortlist:
Dave Portnoy
Dana White
Omarosa
The Zuck

Portnoy’s portfolio is way down and he’s really pissed about it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:With the Trump administration running roughshod over the Constitution, I do not think that the SC will overturn Humphrey's Executor. Between that and the cases involving injunctions, I think even the right wing of the Court will act to reign him in . . . not because the right is particularly principled, but they do like their power and won't rule themselves into irrelevancy.

The legislature seems pretty happy to give up their power.

But for how long?!!! They live in the same economy the rest of us live in. If the economy tanks, they and their relatives will also be affected. I know they don't care about democracy--but surely they care about money?

[Anonymous]

Trump will get some grossly incompetent person to replace Powell. Trump is driving us off a cliff.

[Anonymous]

Anonymous wrote:Trump is Captain of his own Titantic. May he go down with the ship he is dragging us all down with.

Perfect.