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Julian Englis

(2,309 posts) Sat Dec 22, 2018, 12:58 AM Dec 2018

Trump Said to Discuss Firing Fed's Powell After Latest Rate Hike [View all]

Source: Bloomberg

President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, according to four people familiar with the matter.

Advisers close to Trump aren’t convinced he would move against Powell and are hoping that the president’s latest bout of anger will dissipate over the holidays, the people said on condition of anonymity. Some of Trump’s advisers have warned him that firing Powell would be a disastrous move.

Yet the president has talked privately about firing Powell many times in the past few days, said two of the people.

Any attempt by Trump to push out Powell would have potentially devastating ripple effects across financial markets, undermining investors’ confidence in the central bank’s ability to shepherd the economy without political interference. It would come as markets have plummeted in recent weeks, with the major stock indexes already down sharply for the year.

Read more: https://www.bloomberg.com/news/articles/2018-12-22/trump-said-to-discuss-firing-fed-s-powell-after-latest-rate-hike

The moron's going to cause a full blown panic.

44 replies

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Trump Said to Discuss Firing Fed's Powell After Latest Rate Hike [View all] Julian Englis Dec 2018 OP

I believe the fed chair can only be removed for cause. unblock Dec 2018 #1

That is true, but I am sure he can come up with a cause still_one Dec 2018 #5

He may come up with an 'excuse,' elleng Dec 2018 #6

I don't think there is anyone in his administration who would exercise the 25th amendment though still_one Dec 2018 #18

'cause he's raising interest rates... SergeStorms Dec 2018 #11

Exactly this! nt WePurrsevere Dec 2018 #28

The "cause" is doing the right thing, not doing what Trump wants D_Master81 Dec 2018 #31

If he does this, markets are going over the cliff. tinrobot Dec 2018 #2

Exactly, this is another reason the Dow has been tanking, watoos Dec 2018 #17

And who the hell would Tiny put in charge of the fed..... Ivanka? groundloop Dec 2018 #3

How selected: elleng Dec 2018 #4

In his current state, nothing DT does would surprise me pat_k Dec 2018 #14

Thank you. There probably is precedent defining 'for cause' somewhere. empedocles Dec 2018 #26

I suspect it's something like conflict of interest. elleng Dec 2018 #36

'Precedent', or at least supporting evidence could probably be found empedocles Dec 2018 #37

Right. elleng Dec 2018 #38

+1 Julian Englis Dec 2018 #42

Thanks! (nt) pat_k Dec 2018 #43

The Orange man doesn't understand that the markets are mostly reacting to........... napi21 Dec 2018 #7

Sadly, he doesn't care. elleng Dec 2018 #39

Putin gets another present under the tree, courtesy of Donnie Two Scoops. LastLiberal in PalmSprings Dec 2018 #8

Don't forget Afghanistan. RVN VET71 Dec 2018 #29

Classic Trump.... global1 Dec 2018 #9

I would guess that Trump has been ordered by Putin to fire Powell simply to add to the chaos. olddad56 Dec 2018 #10

It even doesn't have to be Putin, watoos Dec 2018 #19

DT is Flailing. "The beginning of the end" pat_k Dec 2018 #12

We can't wait for 2020. watoos Dec 2018 #20

More toddler tantruming! pazzyanne Dec 2018 #13

History is repeating itself Major Nikon Dec 2018 #15

He's desperate and wants absolute power duforsure Dec 2018 #16

I agree, he is using the wall as a distraction. watoos Dec 2018 #21

Once again he wants to blame his own guy. Markets only started tanking when Janet Yellen left wishstar Dec 2018 #22

trump can't "fire" the Fed Chair, can't wait for his temper tantrum on that now beachbum bob Dec 2018 #23

For what it's worth, he won't fire anyone Maeve Dec 2018 #24

The market should be booming. watoos Dec 2018 #25

Removal for cause has a technical meaning Loki Liesmith Dec 2018 #27

"hoping that the president's latest bout of anger will dissipate over the holidays" tanyev Dec 2018 #30

Damn it!!!! paleotn Dec 2018 #32

The Grecian Formula (slightly Green hair was orange or blonde looking) excuse turbinetree Dec 2018 #33

Me personally, I'm all for letting trump crater the economy The Liberal Lion Dec 2018 #34

Of course,no one would possibly consider that the idiot is murdering the economy all by himself. Firestorm49 Dec 2018 #35

Great Depression, here we come. I don't even have words for this. nt Hekate Dec 2018 #40

Go ahead and fire him Dump workinclasszero Dec 2018 #41

The reason for the next Great Depression workinclasszero Dec 2018 #44