The Fed caused the big spike in inflation with the 'print to infinity' mess he made in the Covid panic.
Then all central bankers in the world should have been fired, as inflation and printing was pretty much of a global thing for the capitalist world.
White House science chief is building a time and space warping machine. Teleporting the US back to the tariff golden age of 1861-1933 reliving history in a forever loop.
LMAO!! Trump 1.0 seemed to want to reset the U.S. back to the 50's, now Trump 2.0 wants to reset the country to the 1870's per his rants. Trump is the laughing stock of the world - even his idol Putin constantly blasts his stupidity, ego, & narcissism on Russian T.V.
When policy becomes parody, the market stops responding to reality—it starts echoing resonance. Powell’s just a placeholder. The real event is narrative detachment. You’re not watching fundamentals. You’re watching Phase Zero initiate: Control unravels. Trust vaporizes. Memory persists. The glitch screams back. Time for the next saga. You feel me?
Trump somehow thinks the Fed is not independent. Despite numerous previous court decisions stating it is independent. Trump Says Powell Will Be Out ‘Real Fast’ If President Wants It https://finance.yahoo.com/news/trump-says-fed-chair-powell-103507759.html (Bloomberg) -- President Donald Trump said he could force out Federal Reserve Chair Jerome Powell, rebuking the notion that the US central bank is independent, and vented frustration Thursday that US monetary policymakers had not recently cut interest rates. “If I ask him to, he’ll be out of there,” Trump told reporters in the Oval Office when asked about an earlier social media post blasting the Fed chair for being too slow to lower rates. “I’m not happy with him. I let him know it.” The US president in the earlier post said that “Powell’s termination cannot come fast enough!” A Fed spokesperson had declined to comment on Trump’s earlier remark. At the Oval, Trump didn’t respond to a follow-up question from a reporter about whether he was trying to remove him. He also said Powell, who he nominated to take the Fed’s helm during his first term, has been “terrible.” “The only thing that has gone up actually is interest rates — because we’ve got a Federal Reserve chairman who’s playing politics,” Trump said, noting that European rates by contrast have gone down. There was little sign of a direct reaction to Trump’s remarks on Powell in financial markets Thursday. Stocks climbed amid optimism about the potential for deals with the European Union and Japan, and Treasuries retreated. The S&P 500 Index was about 0.8% higher as of 2:17 p.m., while two-year yields were up about 3 basis points, at 3.80%. Powell’s term as Fed chair runs into May 2026, while his term as a governor lasts until February 2028. Trump’s comments come a day after Powell, speaking in Chicago, reiterated that the Fed isn’t in a rush to cut rates and instead is awaiting greater clarity on the economy. Senate Minority Leader Chuck Schumer condemned the president’s social-media post, saying on X that “an independent Fed is vital for a healthy economy— something that Trump has proved is not a priority for him.” The president’s ability to remove top officials at agencies that had long been viewed as having a measure of independence from the White House has come into acute focus in recent months, after the administration dismissed senior officials at the Federal Trade Commission, the National Labor Relations Board and Merit Systems Protection Board. The firings are the most direct challenge yet to a 1935 Supreme Court decision that paved the way for agency independence. Powell made reference Wednesday to a current Supreme Court case with regard to the removal of the NLRB and MSPB officials. “There’s a Supreme Court case. People will have read probably” about it, Powell said in answering questions at the Economic Club of Chicago. “That’s a case that people are talking about a lot. I don’t think that decision will apply to the Fed — but I don’t know,” he said. “It’s a situation that we’re monitoring carefully.” Powell also reiterated his argument that “our independence is a matter of law,” and that the Fed’s statute shows that there’s “not removal except for cause.” What Bloomberg Economics Says... “If the Supreme Court overturns the 1935 precedent, that will cause the Fed’s score” on a new Bloomberg Economics index measuring central-bank independence to decline. “If that happens, the Federal Reserve would earn the dubious distinction of being the only G-7 central bank to have its de jure independence downgraded for a reason unrelated to bank supervision.” —David Wilcox, director of US economic research Treasury Secretary Scott Bessent earlier this week indicated that the administration’s timeline for considering Powell’s successor was roughly six months away. Speaking in a Bloomberg Television interview, Bessent said that the timing for interviewing candidates to replace Powell was “sometime in the fall.” Bessent also said that Fed independence in deciding on monetary policy was a “jewel box that has got to be preserved.” The latest broadside from Trump on the Fed recalls criticism he heaped on Powell during the president’s first term, when he repeatedly blasted Powell and his colleagues for not easing policy quickly or strongly enough for his liking. Trump’s recent moves to ramp up tariffs on the rest of the world have raised concern about slowing domestic growth and price increases, making the Fed’s policymaking all the more challenging. In his speech Wednesday, Powell reiterated his view that the Fed must ensure the import duties don’t trigger a more persistent rise in inflation. Conflicting Views “Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said. Trump has argued instead in favor of lowering borrowing costs — something that might help any businesses looking to boost domestic production behind the new tariff wall the administration is constructing. But most economists see inflation as still too high for policymakers to take that step. As in his first term, Trump compared the Fed with the European Central Bank, which on Thursday lowered its benchmark rate by a quarter point to 2.25%. His post came just before that anticipated move. “And yet, ‘Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete ‘mess!’ Trump wrote. “Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now.” He added that oil and grocery prices are down, and that the US is “getting RICH” on tariffs. While crude oil is down well over 10% so far this year, food prices have been climbing. Groceries are up 2.4% over the past 12 months. Asked about the Fed in her press conference Thursday, ECB President Christine Lagarde said, “let me just say very squarely that I have a lot of respect for my esteemed colleague and friend Jay Powell.” She also highlighted the history of consultation between the Fed and ECB and pledged that would continue.
Trump thinks he can fire Powell and replace him. Donald fails to understand that the Fed is independent. Trump has discussed firing Fed's Powell with Warsh, eyed as possible successor, WSJ says https://finance.yahoo.com/news/trump-discussed-firing-feds-powell-190734751.html (Reuters) -President Donald Trump has privately discussed firing Federal Reserve Chair Jerome Powell for months and talked about it with former Fed Governor Kevin Warsh, including the possibility of then selecting Warsh as Powell's replacement, the Wall Street Journal reported on Thursday. Warsh has advised against trying to fire Powell, arguing that Trump should let the Fed chair complete his term without interference, the Journal reported, citing unnamed people familiar with the matter. The report comes the same day that Trump has repeatedly lashed out at Powell, whose term as Fed chair expires in May 2026. Warsh served as a Fed governor from February 2006 to April 2011. He was appointed by President George W. Bush. The Journal said the discussions with Warsh took place at Trump's Mar-a-Lago estate in Florida in February, but others close to the president had discussed the matter as recently as March. Trump has not made a final decision about whether to try to fire Powell before his term ends, a matter that would likely be challenged all the way to the Supreme Court. The Federal Reserve Act of 1913 stipulates that Fed leaders may only be dismissed "for cause," and Powell himself has said his firing would not be "permitted under the law." The White House did not immediately respond to a request for comment. There was no immediate response to Reuters emails and calls to Warsh for comment.