Friday, August 01, 2025

You Already Paid For This

--Trump admits he can’t fire Powell.

—Powell speaks for the Board, but he is not the Board. The Board, through a committee, votes on interest rates.

—Trump is urging the Board to usurp…itself.

And he wants to blame the Fed for what’s coming.
And here’s the problem with “low information voters:” they don’t understand “Trumpnomics” either. And don’t give a shit. They know when prices go up, and they blame the White House. Just ask Joe Biden.

Trump can deny responsibility all he wants. He’s still going to get it.

Trump can replace Powell as Chair of the Fed next year, when Powell’s term expires. But Powell can stay on the Board. And if the Fed drastically lowers interest rates (unlikely), it could trigger higher interest rates as the market loses trust in the Fed. Incompetence and ignorance have their price.

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