The Toothless Old Lion In Early Spring

Elizabeth Warren on CNBC explains why Trump illegally firing Jerome Powell would wreck the economy and take the US down a fast track toward dictatorship pic.twitter.com/7BdyCPh3WC

— Aaron Rupar (@atrupar) April 17, 2025

I read something this morning laying out in detail why the POTUS cannot fire the Chair of the Fed.* But you’ll just have to take Senator Professor Warren’s word for it.

Trump on Powell:

“Oh, he'll leave. If I ask him to, he'll be out of there.”

“I don't think he's doing the job… He's always too late, a little slow.”

“I’m not happy with him.”

“If I want him out, he’ll be out of there real fast.”pic.twitter.com/GcTZjYbsp3

— annmarie hordern (@annmarie) April 17, 2025

This is all a bit muddled. Trump posted his anger with Powell this morning. So:

That was before Trump spoke in the Oval Office. I’ll just point out the S&P closed up 7 points, but the Dow lost 527 points. I’m not sure when Trump spoke. I guess we’ll find out tomorrow.

Here’s what would happen if Trump tried to fire Powell:

A) Trump would get the cameras in so he can say: “You’re fired!” (well, not to Powell’s face. Trump doesn’t have the balls for that).

B) Powell could then:

Quit.

Or tell Trump to pound sand.

Either way, the markets go apeshit. As the White House, if not Trump, knows.

But Trump can no more remove him than he can remove a member of the Supreme Court. The Fed Chair position is a position of law, not the President’s pleasure. Powell is not a member of Trump’s Cabinet.

He doesn’t work for Trump.

Given the shit Trump is doing, I think Powell would go with the sand option. Probably why Trump is talking about it. He knows it’s up to Powell.

Trump dare not look weak. This could be entertaining.

*Found it, if you need more assurance.