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.
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.
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.
What you described will happen no matter who the chair of the FED is, or the President for that matter.
There’s no need to “rig the elections”, the FED is unconcerned. Or, perhaps I should say, the BANKERS who work for banks and investment firms with a temporary “FEDcation” term are not concerned.
After all, they will purchase everything they can after the fall at bottom-of-the-barrel prices, using whatever currency they need to. To them, the dollar itself is irrelevant, it’s the ASSETS they will acquire after its downfall.
These are not national interests.
We do agree on one thing, gold will retain it’s value much more than the dollar.
the ding dang dudily depression.
You idiot, 2x ETFs have constant drag. Dump that shit and buy futures.
Don’t know why y’all are downvoting. He’s right.
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 problem is 10 yr Treasury bonds are very close to the dealty spiral rate because of our debt. So we are choosing hyper inflation vs bankruptcy.
The only way out is this is to pay back the debt 10 years ago
the real way out was to not have reagan erra voodoo economics become the way to go.
That and Clinton’s nfta. That really killed American manufacturing.
yeah but in regards to debt his party use to be universally against it and he “proved” deficits don’t matter and they switched to against it only if its not us doing it.
Nazi
Edit: downvoters, just check this idiot’s profile.
You might have room temp IQ, and that is ok. Very reactive monkey brain.
You’re cool with this and him pouring billions into installing fascists around the world but sure man that makes me a moron.
Zero people buy what you’re selling here. You’ll be banned within hours. Enjoy that, magat nazi.
I buy it – at what point did he imply he’s MAGA? What he said is a statement on the reality of the nation’s finances. Can you please be a little more civil?
Let me know if you’re cool with this ^
More fascism throughout his comment history too.
I guess you just told me you’re also a Nazi sympathizer too since you asked me to be civil to a Nazi who just directly called me intellectually disabled as an insult.
Okay, okay, Jesus Christ, he’s not a good person and you have receipts. I concede.
I never said i was ok with it, and I’m not selling anything.
WHatS hE dOnE WrOnG? noThiNg!!!1
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
one of the last bits of the federal government with somewhat useful data.
No, he won’t.
Sure would be useful if SCOTUS could rule on this now before it’s an issue, fucking pricks
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
