Trump demands that Federal Reserve board wrest full control of central bank from Fed Chair Powell | Metals Mine

  • Trump demands that Federal Reserve board wrest full control of central bank from Fed Chair Powell

    From pbs.org

    President Donald Trump on Friday called for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates. Posting on his Truth Social platform, Trump called Powell “stubborn.” The Fed chair has been subjected to vicious verbal attacks by the Republican president over several months. The Fed has the responsibility of stabilizing prices and maximizing employment. Powell has held its benchmark rate for overnight loans constant this year, saying that Fed officials needed to see what impact Trump’s ... (full story)

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Schultz
Aug 1, 2025 11:53am
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I can't imagine what Chairman Paul Volcker must have gone through when the Fed increased rates very substantially all those years ago to put a break on runaway inflation and pretty much caused a worldwide recession (although don't quote me on that).

Trump would have melted with rage. This current stuff doesn't even register on any meaningful scale compared to those heady days.
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Bones
Aug 2, 2025 9:41am
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Quoting Trader#BC14
Name something Powell has done right? Politically motivated 50 drop right before the election which was shown to be unnecessary at the time. Increased the Fed balance sheet to an inane degree and caused 50% increase in prices by endless printing. Enabled, encouraged, and paid for extreme level of government overspending, and caused the Fed to lose billions. Refused to raise rates when inflation was out of control and even doves were yelling at him to act. Hate Trump all you want, I get it, but if you defend Powell you are ignorant or a liar.
All he did is facilitate the government, so the FED monetised the debt, and now theres a problem.
The Gov need even more.
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san99
Aug 1, 2025 12:01pm
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Quoting Schultz
I can't imagine what Chairman Paul Volcker must have gone through when the Fed increased rates very substantially all those years ago to put a break on runaway inflation and pretty much caused a worldwide recession (although don't quote me on that). Trump would have melted with rage. This current stuff doesn't even register on any meaningful scale compared to those heady days.
Melt and just boil away into the ether, like the wicked witch of the west. That would be great to happen to him now
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Trader#BC14
Aug 1, 2025 12:08pm
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Name something Powell has done right?

Politically motivated 50 drop right before the election which was shown to be unnecessary at the time.
Increased the Fed balance sheet to an inane degree and caused 50% increase in prices by endless printing.
Enabled, encouraged, and paid for extreme level of government overspending, and caused the Fed to lose billions.
Refused to raise rates when inflation was out of control and even doves were yelling at him to act.

Hate Trump all you want, I get it, but if you defend Powell you are ignorant or a liar.
Reply
FourxTwoxs
Aug 1, 2025 12:02pm
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Hehehe, what will "the Market" do if this actually happens?
How would "the Market" be reacting today had the FED cut 25 or 50 yesterday? rofl
It's hard to imagine that the FED didn't have some inkling of those revisions.
No cut yesterday probably prevented how much bigger sell-off today.
Reply

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