Because the political fallout would make matters worse. The Federal Reserve would be openly hostile to the Trump Administration.
It's all well and good to talk about ending the Fed but that's not a fight Trump can win this year, and maybe not ever. So he has to deal with the situation as it is, and not as he wants it to be.
If he lets him go, the fed reserve will end? Do we nd this organization? Since when did Trump care what anyone thinks, much less the left thinks? If Powell or anyone doesn’t do a good or do their job, then normally they get let go.
Another witty and insightful analysis, Peter. You are the best!
I have really wondered how out of touch with reality Powell is.
My high school French teacher taught us that when Marie Antoinette said, “Let them eat cake” she was not being callous or flippant. Marie was actually so ignorant of how peasants lived that it never occurred to her that peasants wouldn’t have both bread and cake in their houses. If they were out of bread why don’t they just eat some of their cake?
That seems to be Powell’s mentality. Everything’s fine in America - why don’t people just eat the current interest rates?
When Trump publicly shamed Powell on the building of the Fed’s marble-bathroomed palace, I thought Trump was building to a tactic, a trick up his sleeve to pressure Powell to lower rates. Was Powell too clueless to sense the pressure? Is he even out of touch with that? Hmmm.
Why is Trump allowing him to stay?
Because the political fallout would make matters worse. The Federal Reserve would be openly hostile to the Trump Administration.
It's all well and good to talk about ending the Fed but that's not a fight Trump can win this year, and maybe not ever. So he has to deal with the situation as it is, and not as he wants it to be.
If he lets him go, the fed reserve will end? Do we nd this organization? Since when did Trump care what anyone thinks, much less the left thinks? If Powell or anyone doesn’t do a good or do their job, then normally they get let go.
Another witty and insightful analysis, Peter. You are the best!
I have really wondered how out of touch with reality Powell is.
My high school French teacher taught us that when Marie Antoinette said, “Let them eat cake” she was not being callous or flippant. Marie was actually so ignorant of how peasants lived that it never occurred to her that peasants wouldn’t have both bread and cake in their houses. If they were out of bread why don’t they just eat some of their cake?
That seems to be Powell’s mentality. Everything’s fine in America - why don’t people just eat the current interest rates?
When Trump publicly shamed Powell on the building of the Fed’s marble-bathroomed palace, I thought Trump was building to a tactic, a trick up his sleeve to pressure Powell to lower rates. Was Powell too clueless to sense the pressure? Is he even out of touch with that? Hmmm.
Jay Powell is nothing if not clueless.
He's not a Fed Chairman, he's a 90s sitcom character.
They should make him into a cartoon character on “Spongbob SquarePants” - maybe Squidward’s new roommate.
They.could play clarinet/oboe duets together - they could do interpretive dance together!