Mr. Powell, You Are Dismissed | Metals Mine

  • Mr. Powell, You Are Dismissed

    From macroanchor.substack.com

    At Macro Anchor, we do not make predictions by extrapolating headlines, market prices, or consensus forecasts. We start from constraints. We ask what is binding, what is no longer optional, and what cannot be postponed without breaking the system. From those constraints, objectives emerge mechanically, not ideologically. And once objectives are fixed, outcomes are not guesses; they are paths of least resistance. This is how macro regimes shift. Seen through that lens, what is happening today around the Federal Reserve did not begin with a subpoena. It did not begin with a press conference, nor with Jerome Powell ... (full story)

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LightchaserG
Jan 12, 2026 8:37am
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To Summarise (Thank you AI)

Chelhot’s argument is not a critique of Powell’s competence. It’s a systematic case that:
-The macroeconomic constraints of high debt and slowing growth force monetary policy into a new equilibrium.
-Inflation targeting is no longer the true driver of rates.
-The Fed’s independence (as markets thought they knew it) is already effectively over.
-Powell’s “dismissal” is symbolic of this regime change.

June will be interesting!
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Trader#C92B
Jan 12, 2026 9:50am
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Trump is going on a power trip yet again. Can't say I'm surprised.
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Trader#EA73
Jan 12, 2026 10:17am
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Trump is a bitch
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Subdude
Jan 12, 2026 12:38pm
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Quoting LightchaserG
To Summarise (Thank you AI) Chelhot’s argument is not a critique of Powell’s competence. It’s a systematic case that: -The macroeconomic constraints of high debt and slowing growth force monetary policy into a new equilibrium. -Inflation targeting is no longer the true driver of rates. -The Fed’s independence (as markets thought they knew it) is already effectively over. -Powell’s “dismissal” is symbolic of this regime change. June will be interesting!
Thanks for the summary - saved me from taking the time to read the whole thing. However, it begs the question - why write this now? All these points could have been made, I dunno - a month ago, two? So now that the demented narcissist in chief decided to distract the public's attention from the real problem (staring at him in the mirror) by yet another "fraud and abuse" investigation, we are to scrutinize the Fed any more than we normally would care to? Maybe another look at Lisa Cook's mortgage application is also merited, while we're at it?
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ocd
Jan 12, 2026 11:04am
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Housing...

Sellers stubbornly refuse to lower prices (not referring to house flippers) when the general feel is this is just a pullback not a real correction. And quite frankly, you can't blame them. So what will it take to ignite the housing market? Lower rates because, for the average American citizen, everything relates to monthly payment.

If you hate Trump and you're a nobody, you take to social media to vent. If you're working for the Federal Reserve and you hate Trump, you have real power to cause a problem and that's by keeping rates just high enough to slow one of the biggest industries while pretending it's for the good of the country.
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objective
Jan 12, 2026 3:48pm
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America on it's path to collapse
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Trader#2E79
Jan 12, 2026 10:58am
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Trumps only taking money out of our pockets and sending us into the abyss. But thats ok as long as he makes his money. I can not believe wall street is allowing this. the ones that are allowing this are getting thiers now before it hits. bet you wish you could.
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Trader#9D6E
Jan 12, 2026 11:17am
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Macro Anchor seems to be biased. Does he not see what is going on in the United States? Everyone can see what Trump is doing. He' is wasting our tax dollars beyond repair. Anyone who supports this is anti-American. The Feds should not feel pressure coming from any President or political party.
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SunTrader
Jan 12, 2026 4:24pm
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CPI tomorrow. Wonder how real the number will be?
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Trader#AE15
Jan 12, 2026 11:47am
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It doesn't matter whether or not Trump is a Russian agent. EVERYTHING he has done since day one of his second term is exactly what a Russian agent would do if he was doing Putins bidding, but trying to look like he was attempting to do the job of being the President of the USA. Sometimes, I'm not sure he is even attempting to do the job.
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MacroAnchor
Jan 12, 2026 9:34am
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Thank you for your comment. Much appreciated. And you are right on all the points you raised. Andre Chelhot.
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Trader#8747
Jan 12, 2026 2:03pm
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Powell probably indicated he was going to stay on until 2028 as Govenor, which is pretty unheard of though understandable given what has been coming out of the WH. This would effectively make Trump's fed chairman pick useless, which likely upset him quite a bit.
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Trader#5036
Jan 12, 2026 2:35pm
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Jerome Powell is not the type of person to succumb to Trump's aggressive tactics. Rather than engaging in petty revenge politics with Jerome Powell, who is a genuinely honorable individual and far superior to what Donald Trump aspires to be or believes he is, Trump should adhere to his commitments regarding Iranian interference. Mr. Trump must take decisive action against Iran using whatever level of severity is necessary to eliminate the oppressive regime for both the Iranian people and the global community once and for all.
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Trader#34BA
Jan 12, 2026 2:50pm
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not so smart
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Trader#1BB5
Jan 12, 2026 6:04pm
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"Trumps a russian agent.." ok, SO do Russian Agents seize Russian Assets, Take over Russian ally countries, Hijack Russian Oil Tankers.
Get real, Trump may be a complete lunatic, But these arent the actions of anybody who is a Russian Agent.
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puddinskins
Jan 12, 2026 11:52am
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Lots of TDS on here...
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Trader#0612
Jan 12, 2026 11:56am
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Get ready for higher inflation everybody, good luck to you all
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Trader#9219
Jan 12, 2026 7:23pm
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Feels like it is about time to check out new batch of Epstein files.
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