Trump just threatened to sack Fed Chair Powell – are you cowering yet?

“If I want him out, he’ll be out”

President Trump is giving the strongest indications yet that he may try to fire Fed chair Jerome Powell — a legal and economic showdown with little modern precedent, Axios’ Courtenay Brown reports.

• • “If I want him out, he’ll be out of there real fast, believe me,” Trump told reporters today in the Oval Office.
  • “Powell’s termination cannot come fast enough!” Trump posted earlier in the day on Truth Social.

State of play: Trump is mad at Powell for not lowering interest rates.

• • He said Powell should follow the lead of the European Central Bank, which cut rates again today because its outlook for the European economy is growing more pessimistic.
  • Powell has said Trump’s tariffs could cause inflation to spike.

What we’re watching: Federal law and Supreme Court precedent say presidents cannot fire the Fed chair over a policy disagreement.

• • But the Trump administration is asking the Supreme Court to overturn that precedent and let the president fire the heads of independent agencies.
  • The conservative court has generally sided with Trump in his push for more power to fire federal officials, but even a ruling in his favor in this case may not apply to the Fed.
  • “I don’t think that that decision will apply to the Fed, but I don’t know. It’s a situation that we’re monitoring carefully,” Powell said yesterday.

I told you and told you and told you that Trump is a fascist and with each passing week as we enter almost 4 months of his reign of chaos, he pores me right.

Threatening to sack the Fed Chair is total madness.

Trump wants the world to cower before him.

He wants the threat of American aggression to gain him power and submission.

Threatening friends and allies is not what friends or allies do.

That is what a vile and selfish narcissist on an ego trip does.

That is what a toxic bully does.

We should not cower to Trump.

We should boycott America, shun America, and work with everyone who isn’t America for the next 4 years to see if American Democracy can rebalance itself.

We should not cower before an Orange fascist.

 

Increasingly having independent opinion in a mainstream media environment which mostly echo one another has become more important than ever, so if you value having an independent voice – please donate here.