Peter, several weeks ago you stated that Trump would not fire Powell. Since then, Trump has had his patience severely tested by Putin, Zelenskyy, Iran, and other irritants. He probably feels that he has been very patient with Powell, although Trump has made clear that he wants Powell to lower rates. Do you still think Powell’s job is safe, or do you now think Trump might fire his slow-moving hiney?
Powell's term as Fed chair is up next year I believe. Firing Powell now would only alienate the rest of the Fed Board of Governors. Not only would it not make the Fed more responsive, it could very easily make it less.
If Trump can bully him into an early exit that's one thing, but an outright firing under the present circumstances is politically unwise.
Peter, several weeks ago you stated that Trump would not fire Powell. Since then, Trump has had his patience severely tested by Putin, Zelenskyy, Iran, and other irritants. He probably feels that he has been very patient with Powell, although Trump has made clear that he wants Powell to lower rates. Do you still think Powell’s job is safe, or do you now think Trump might fire his slow-moving hiney?
Powell's term as Fed chair is up next year I believe. Firing Powell now would only alienate the rest of the Fed Board of Governors. Not only would it not make the Fed more responsive, it could very easily make it less.
If Trump can bully him into an early exit that's one thing, but an outright firing under the present circumstances is politically unwise.
You always make sense!