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.