by With all of the firings that Pres. Trump has done, some wondered if he would let his feud with Jerome Powell force him to try to fire him as well. However, Trump has come out again saying that he has no intention of going after Powell:
He said he has “no intention of firing” Jerome Powell after repeatedly criticising the head of the central bank, but he added that he would like Powell to be “a little more active” on cutting interest rates.
Source: Trump hints at softening China tariffs and says no plan to sack Fed boss Jerome Powell
And this just makes sense. I mean, Trump is doing something that will impact the economy, more so in the short term as the systems react and adjust to the changes that Trump has been making. Powell, not following along with Trump, gives the President a huge gift– a foil… someone to blame if the economy does go into a recession.
Watch the President blame the Fed Chief for any downturn, saying that Powell should have lowered interest rates and worked with him to keep things running well. If Powell does change his stance on interest rates, that’s the same as finding someone who does what Trump wants.
So, it’s a win-win– just the type of situation Trump tries to leverage.
