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Even if Powell isn't fired, his term is up in a year anyway and Trump appoints his successor. It's just delaying the inevitable.
by inverted_flag 1y ago
Even if Powell isn't fired, his term is up in a year anyway and Trump appoints his successor. It's just delaying the inevitable.
- alabastervlog 1y agoAnd he signaled pretty strongly in his first term that he was pissed he didn't have more control over the Fed. It was a safe bet that was one of the "deep state" (I cannot roll my eyes hard enough on that one, in case that doesn't come through from the scare quotes) hurdles he and his P2025 pals were planning to remove at some point so they couldn't get in the way of the autocracy agenda, this term, and that his next appointment (whether it comes after a questionably-legal firing this year, or next year at the end of Powell's term) will be someone who'll do whatever Trump wants. I don't even know what'll happen if there's a blatantly politically-motivated interest rate drop. Nothing good. I'm not even sure consumer and business rates will follow suit like they normally do, due to the perceived risk in the current economy. It's gonna be weird.