Trump has discussed firing Fed's Powell with Warsh, eyed as possible successor, WSJ says

[FriscoKid]

Shouldn't be long now before the axe falls. Laws are for little people!
 

April 17 (Reuters) - President Donald Trump has privately discussed firing Federal Reserve Chair Jerome Powell for months and talked about it with former Fed Governor Kevin Warsh, including the possibility of then selecting Warsh as Powell's replacement, the Wall Street Journal reported on Thursday.

 

Warsh has advised against trying to fire Powell, arguing that Trump should let the Fed chair complete his term without interference, the Journal reported, citing unnamed people familiar with the matter. The report comes the same day that Trump has repeatedly lashed out at Powell, whose term as Fed chair expires in May 2026.

 

Warsh served as a Fed governor from February 2006 to April 2011. He was appointed by President George W. Bush.

 

The Journal said the discussions with Warsh took place at Trump's Mar-a-Lago estate in Florida in February, but others close to the president had discussed the matter as recently as March.

 

Trump has not made a final decision about whether to try to fire Powell before his term ends, a matter that would likely be challenged all the way to the Supreme Court. The Federal Reserve Act of 1913 stipulates that Fed leaders may only be dismissed "for cause," and Powell himself has said his firing would not be "permitted under the law."

 

The White House did not immediately respond to a request for comment. There was no immediate response to Reuters emails and calls to Warsh for comment.

 

https://www.reuters.com/world/us/trump-has-discussed-firing-feds-powell-with-warsh-eyed-possibe-successor-wsj-2025-04-17/

[Tug]

Ahh by the looks of things it’s trump that needs to be fired obviously 

[FriscoKid]

16 minutes ago, Tug said:

Ahh by the looks of things it’s trump that needs to be fired obviously 

But Hunter's laptop, Hillary's emails, Trump is always winning and Making America Grotesque Again! 😂

[hotsun]

Bye bye j pow. Thank you for more inflation, all that money printed will just be funneled into bitcoin eventually

[flyingtlger]

[Tug]

8 minutes ago, hotsun said:

Bye bye j pow. Thank you for more inflation, all that money printed will just be funneled into bitcoin eventually

Translation Mr Powell and the previous administrations COMPETENT professionals got inflation under control and had the best results of ALL the developed nations on the planet hope that helps 

[hotsun]

7 minutes ago, Tug said:

Translation Mr Powell and the previous administrations COMPETENT professionals got inflation under control and had the best results of ALL the developed nations on the planet hope that helps 

The average year-over-year inflation rate under Joe Biden was 4.95%. Biden signed the American Rescue Plan Act in 2021, a $1.9 trillion stimulus package to help the country recover from COVID-19. In the wake of the COVID-19 pandemic recovery and the soaring gas prices after the Russian invasion of Ukraine in 2022, inflation rose to record levels not seen since the 1980s.293031Inflation peaked at 9.1% year-over-year in June 2022, the highest increase in 40 years.
 

https://www.investopedia.com/us-inflation-rate-by-president-8546447

[hotsun]

11 minutes ago, Tug said:

Translation Mr Powell and the previous administrations COMPETENT professionals got inflation under control and had the best results of ALL the developed nations on the planet hope that helps 

Under control. Grocery prices doubled, maybe tripled, from 2020. You live here, and you say under control. 100k for one bitcoin, 3500 for gold. Homelessness skyrocketed. But everything is under control

[GammaGlobulin]

We are witnessing the swinging back of the pendulum....

To normal.

 

 

[FriscoKid]

46 minutes ago, GammaGlobulin said:

We are witnessing the swinging back of the pendulum....

To normal.

 

 

The word normal does not exist in any sphere of existence within your world. 

[candide]

5 hours ago, hotsun said:

The average year-over-year inflation rate under Joe Biden was 4.95%. Biden signed the American Rescue Plan Act in 2021, a $1.9 trillion stimulus package to help the country recover from COVID-19. In the wake of the COVID-19 pandemic recovery and the soaring gas prices after the Russian invasion of Ukraine in 2022, inflation rose to record levels not seen since the 1980s.293031Inflation peaked at 9.1% year-over-year in June 2022, the highest increase in 40 years.
 

https://www.investopedia.com/us-inflation-rate-by-president-8546447

Just like everywhere else in the world. 

 

https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/

 

The difference between the U.S. and other developped countries Is that GDP growth was ×2 to 3 compared to these countries ex G7.

[FlorC]

Powell is no help for the Trump agenda.  An opinion piece here :

 

 

Put simply, the ENTIRE financial system is on edge.

So, what do our current Fed Chair Jerome Powell do? He trashes the economy and the stock market in a speech.

Yesterday, Chair Powell spoke at the Economic Club of Chicago. Rather than soothing the markets by stating the Fed stands to act, he went DARK with his speech, stating that tariffs will have a negative impact on the economy, trigger an uptick in inflation, and potentially have a “larger than expected” impact. When asked if the Fed would intervene in stocks if they continued to collapse, he said, “No, with an exclamation.”

This is simply jaw dropping.

Again, the Fed’s job is to maintain financial stability. The entire financial system is on edge, and the Fed Chair is warning about an economic downturn, higher inflation, and saying that he doesn’t care if the stock market collapses.

I cannot remember ANY Fed official EVER being this bearish/ negative on things when the financial markets are on edge. And it begs the question, “is the Fed TRYING to crash the markets?”

We know the Fed hates Trump. You can literally feel the disdain in their public statements. But at this point it appears that senior Fed officials have taken things to the point of negligence.

A CENTRAL BANKER’S JOB IS TO PROMOTE STABILITY, NOT KICK THE MARKETS WHEN THEY’RE DOWN.

This is an extremely dangerous situation. The Fed basically just told investors, “you’re on your own with this mess.”

The odds of a stock market crash are now higher than at any point since the pandemic.

----------------------------------------------

 

Personnally , I think it is great that he won't help .

The PPT (plunge protection team) should never have existed.

Stocks go down , you take the risk , you are on your own.

 

That said , Trump should end the FED , like Ron Paul said years ago, or take it over 

so it is NOT a private institution. Elon should audit the cesspool.

[spidermike007]

Trump is completely lost in space, and has lost the plot to a scary extent. He is so out of touch with the common man and the issues that the average person is facing. 

 

Sometimes the billionaires running the federal government sound like they’re talking to other billionaires.

“THIS IS A GREAT TIME TO BUY!!!” President Trump wrote on social media last week, offering a stock tip that appeared aimed at the investor class rather than ordinary Americans watching their plummeting 401(k)s.

 

Howard Lutnick, the secretary of commerce, has said his mother-in-law wouldn’t be worried if she didn’t get her monthly Social Security check. Elon Musk, who is slashing the Social Security Administration’s staff, has called it a “Ponzi scheme.” Treasury Secretary Scott Bessent has asserted that Americans aren’t looking at the “day-to-day fluctuations” in their retirement savings.

And if automakers raise their prices because of Mr. Trump’s tariffs? “I couldn’t care less,” the president told Kristen Welker of NBC.

 

Psychologists say that extreme wealth does change people and their views of those who have less. For the record, Forbes put Mr. Trump’s net worth at $4.2 billion on April 8, Forbes estimated the net worth of Mr. Musk, the world’s richest man, as $364 billion on April 17 and Mr. Lutnick’s as $3 billion the same day. Mr. Bessent, formerly the top investor for the billionaire liberal philanthropist George Soros, listed assets in excess of $700 million on his financial disclosure form this year but is thought to be worth much more.

 

“In the case of the Trump administration,” Professor Pinker said, “they have little choice but to twist themselves into artisanal pretzels in order to defend the indefensible.”

“They play golf with billionaires, they have dinner with billionaires, they go to Mar-a-Lago,” she said. “When was the last time any of them bought a dozen eggs or a quart of milk?”

Or as Mr. Trump said when he kicked off a Mar-a-Lago dinner with friends after his tax cuts became law in December 2017, “You all just got a lot richer.”

 

 

[save the frogs]

11 hours ago, spidermike007 said:

“You all just got a lot richer.”

I think it's the opposite.

Precisely because they are already so rich that they are not motivated by greasing their own pockets.

But pointless to debate as impossible to prove. 

 

[Dave0206]

2 hours ago, save the frogs said:

I think it's the opposite.

Precisely because they are already so rich that they are not motivated by greasing their own pockets.

But pointless to debate as impossible to prove. 

 

Well the trickle down economy will do wonders for you're line of thinking 🤔 seems to have worked out better for the rich but I'm sure that wasn't the original plan . 😉 

[save the frogs]

11 hours ago, Dave0206 said:

Well the trickle down economy will do wonders for you're line of thinking 🤔 seems to have worked out better for the rich but I'm sure that wasn't the original plan . 😉 

Just watched an interview with Trump on Oprah in the 80s.

And he was talking like someone who cares about his country. 

Of course the people at the top make more, but if the country goes to crap, they don't make money either. 

 

[Patong2021]

Trump  currently does not have the authority to terminate  Chairman Powell on the basis of a policy disagreement.

[Dave0206]

6 minutes ago, save the frogs said:

Just watched an interview with Trump on Oprah in the 80s.

And he was talking like someone who cares about his country. 

Of course the people at the top make more, but if the country goes to crap, they don't make money either. 

 

Can you honestly say hand on heart that Donald has your best interests at heart whilst in my opinion lining his pockets with $trump coin melania and barron coins . sneakers and bibles ? Please don't say if people are stupid enough to buy its there own fault I would respond as a leader I would respect him if he tried to protect the these same stupid people from others trying this scams

[stevenl]

7 minutes ago, Patong2021 said:

Trump  currently does not have the authority to terminate  Chairman Powell on the basis of a policy disagreement.

Doesn't mean he won't do it.

[sharot724]

Trump answers to no one but that voice in his minds eye.

[rough diamond]

28 minutes ago, save the frogs said:

Of course the people at the top make more, but if the country goes to crap, they don't make money either. 

Says who?

Of course they will make money out of it.

[frank83628]

Well, if the WSJ says it, it must be true.! 🙄

[jas007]

31 minutes ago, stevenl said:

Doesn't mean he won't do it.

He can try, but I'm not so sure that would fly, legally. 

 

The Fed is a private/public institution created by Congress in 1913. It is owned by its member banks, but the are restrictions on that ownership.  The Fed chairman is appointed by the President  and confirmed by the Senate and can only be removed for "cause."  In any event, Trump's authority to "fire" Powell is not clear.

 

My guess is that Trump will not be allowed to fire Powell, absent a finding of cause.  Otherwise, what's the purpose of an independent Fed? If Trump can fire Powell just because he wants to, then a precedent will be established. Any President will always be able to fire any Fed chairman.  Fed independence would become just a joke. 

 

O f course, in a perfect world, there would be no Fed and the market would set rates.  That probably won't happen anytime soon, though. 

[jerrymahoney]

NYPost said so it iS true:

Published April 17, 2025, 8:01 a.m. ET

The broadside comes as the Wall Street Journal reported Thursday that Trump has privately discussed firing Powell for months and talked about it with former Fed Governor Kevin Warsh, including the possibility of selecting Warsh as Powell’s replacement.

Warsh advised against trying to fire Powell, arguing that he should let the Fed chair complete his term without interference, the Journal reported, citing unnamed people familiar with the matter.

https://nypost.com/2025/04/17/business/trump-blasts-federal-reserve-chair-jerome-powell-says-his-termination-cannot-come-fast-enough/

[stevenl]

50 minutes ago, jas007 said:

He can try, but I'm not so sure that would fly, legally. 

 

The Fed is a private/public institution created by Congress in 1913. It is owned by its member banks, but the are restrictions on that ownership.  The Fed chairman is appointed by the President  and confirmed by the Senate and can only be removed for "cause."  In any event, Trump's authority to "fire" Powell is not clear.

 

My guess is that Trump will not be allowed to fire Powell, absent a finding of cause.  Otherwise, what's the purpose of an independent Fed? If Trump can fire Powell just because he wants to, then a precedent will be established. Any President will always be able to fire any Fed chairman.  Fed independence would become just a joke. 

 

O f course, in a perfect world, there would be no Fed and the market would set rates.  That probably won't happen anytime soon, though. 

Neither is he allowed to ban AP, neither is he allowed to deport certain people. He still does it, the courts forbid it but he ignores the courts.

And the courts have no power to enforce their rulings.

[still kicking]

https://www.facebook.com/reel/553196884474224/?s=ifu&__cft__[0]=AZXQK6J0cdjdYYmmvv6OSm3f1VzNXvZ-UTSxJ1_FYrYZytUIHFNDtrRO1dbTxnR3mOl2Yizq4iqiG1VHwfTGf5aKYpSvLkfKkB-8ewW5MUuDY8VV37HuXkdHRxgLkLhw6osOqK8UeJgGuUU2Pg6j5GSEu27WQK3ALQfiejuYfifHDKDaFKI-Xj0bnMhQSdIen7o

[Cameroni]

Powell, the financial genius who told us "Oh inflation is just a temporary phenomeneon, nothing to worry about, no biggie"..

 

 

 Trump would have fired him a long time ago if Scott hadn't advised him that the markets would really not like that.

 

There must be better men to lead the Fed than this.

[Lacessit]

On 4/19/2025 at 2:01 PM, FlorC said:

Powell is no help for the Trump agenda.  An opinion piece here :

 

 

Put simply, the ENTIRE financial system is on edge.

So, what do our current Fed Chair Jerome Powell do? He trashes the economy and the stock market in a speech.

Yesterday, Chair Powell spoke at the Economic Club of Chicago. Rather than soothing the markets by stating the Fed stands to act, he went DARK with his speech, stating that tariffs will have a negative impact on the economy, trigger an uptick in inflation, and potentially have a “larger than expected” impact. When asked if the Fed would intervene in stocks if they continued to collapse, he said, “No, with an exclamation.”

This is simply jaw dropping.

Again, the Fed’s job is to maintain financial stability. The entire financial system is on edge, and the Fed Chair is warning about an economic downturn, higher inflation, and saying that he doesn’t care if the stock market collapses.

I cannot remember ANY Fed official EVER being this bearish/ negative on things when the financial markets are on edge. And it begs the question, “is the Fed TRYING to crash the markets?”

We know the Fed hates Trump. You can literally feel the disdain in their public statements. But at this point it appears that senior Fed officials have taken things to the point of negligence.

A CENTRAL BANKER’S JOB IS TO PROMOTE STABILITY, NOT KICK THE MARKETS WHEN THEY’RE DOWN.

This is an extremely dangerous situation. The Fed basically just told investors, “you’re on your own with this mess.”

The odds of a stock market crash are now higher than at any point since the pandemic.

----------------------------------------------

 

Personnally , I think it is great that he won't help .

The PPT (plunge protection team) should never have existed.

Stocks go down , you take the risk , you are on your own.

 

That said , Trump should end the FED , like Ron Paul said years ago, or take it over 

so it is NOT a private institution. Elon should audit the cesspool.

Telling it like it is. That's unpopular in Trump World, where policy consists of pumping sunshine up everyone's ass.

 

Since when did tariffs become non-inflationary?

[Fat is a type of crazy]

1 hour ago, frank83628 said:

Well, if the WSJ says it, it must be true.! 🙄

Geez it's owned by News Corp - how right wing does a source have to be 

[Lacessit]

2 hours ago, save the frogs said:

Just watched an interview with Trump on Oprah in the 80s.

And he was talking like someone who cares about his country. 

Of course the people at the top make more, but if the country goes to crap, they don't make money either. 

 

You obviously don't know what a put option does.