Powell Out?
President Trump’s ramped-up attacks on Federal Reserve Chair Jerome Powell have Washington Republicans bracing for a confrontation that could make the turmoil in the financial markets much worse and put the Fed’s independence and credibility in jeopardy.
Republican aides and strategists say GOP lawmakers are highly anxious about Trump’s tariff strategy and fear that he will send more waves through the financial markets by threatening to interfere in the central bank’s domain of setting monetary policy. by Alexander Bolton ‘The Hill’
The Fed Chairman job, largely non political is now at the center of a firestorm with the President leveling unprecedented level of attacks at the current holder of the position, Jerome Powell. Inflation is the evil boogeyman that has toppled governments and kings since the beginning of civilization. The rank and file members of society are the first to feel the effects of inflation and register their disgust at the ballot box or in the form of revolution as seen in serval South American nations. No one in power wants inflation and lowering it is paramount.
