Fed chair Jerome Powell says he'll refuse to leave if asked to resign

[Matt Collins]

https://www.youtube.com/watch?v=lxzaxI4otSw

 

[Pauls' Revere]

Powell is right. Only Congress can impeach him.
Unless that happens, he will serve as Chairman until his term expires in May, 2026.

This swings both ways. I wouldn't make such a big deal about it.

Well, the GOP controls both houses so maybe?...but i'm not holding my breath.

 

[unknown]

Was hoping to see this turn into a thing.

 

[Matt Collins]

https://www.youtube.com/watch?v=9j9xeCvzkZQ

 

[Occam's Banana]

Putting the federal reserve under the direct control of the president is perhaps the best way to make it even worse.

$5 says that's the plan that gets floated.

The Federal Reserve shouldn't exist at all - but it does, and it wields executive power.

Mike Lee is right: in grade-school civics-class fantasy land, the President is supposed to be the "chief executive", so ... *shrug*

(I suppose one could argue that allowing POTUS to fire the Fed chair would make the Fed at least marginally less unaccountable than it already is.)

 

[Matt Collins]

https://www.youtube.com/watch?v=faNMcA1ZhS4

 

[unknown]

Let's get it.

 

[pmbug]

Trump wants to fire Federal Reserve Chairman Jerome Powell



@Bryan - I would have posted the image directly, but it seems we can't upload attachments.

 

[Swordsmyth]

He's going to eliminate the Fed.
Attacking the Fed is building the momentum to do it.

 

[acptulsa]

He's going to eliminate the Fed.

Swami rides again!

You should review those first three commandments, because you have more faith in Trump than you have in God.

 

[CCTelander]

.

Sure he does.

 

[acptulsa]

Sure he does.

If he really wanted that, he'd fire the Fed itself.

I'd love to hear what the shyll thinks he wants to replace it with. If he says nothing it'd be hilarious, because Trump's problem with Powell is he's not printing as much money as Trump wants to spend.

 

[unknown]

 

[PAF]

If he really wanted that, he'd fire the Fed itself.

I'd love to hear what the shyll thinks he wants to replace it with. If he says nothing it'd be hilarious, because Trump's problem with Powell is he's not printing as much money as Trump wants to spend.

Word on the street is, the guy he wants to hire is a Bilderberger. He claims he is a free market guy, but being a Bush transplant, one has to really wonder.

 

[Snowball]

It won't happen.

 

[spudea]

He is delegitimizing the fed and promoting private crypto currency. All good things.

 

[Invisible Man]

He's going to eliminate the Fed.
Attacking the Fed is building the momentum to do it.

That doesn't jive with the fact that Trump is demanding that they immediately lower interest rates.

 

[PAF]

He's going to eliminate the Fed.

If Trump eliminates the Fed without Bait and Switch replacing it with something else before this 4 year term is over, I will give @Swordsmyth kudos.
If Trump doesn't eliminate the Fed and/or Bait and Switch replace it with something else before this 4 year term is over, @Swordsmyth will give me $100 in gold and/or silver.

Is it a deal, @Swordsmyth ?

Step right up, who else wants in on this?

 

[nikcers]

Trump's power as president doesn't give him authority to delete the federal reserve technically but if he was serious about going after the middle men there is no greater middle men then the "member banks" who own stock in the 12 Federal Reserve Banks.

This stock is not traded publicly and grants a statutory dividend, all remaining profits are then transferred to the US Treasury.

After the pandemic the Fed no longer transfers profits to the Treasury. As of Nov. 8, 2023, the Fed had accumulated a deferred asset.

These deferred assets theoretically could become unpayable under certain financial conditions. Like under a national cataclysmic economic condition, like under a trade war.

If those assets are unpayable simply the federal reserve will no longer have any legal basis to exist under their congressional mandate which is to promote maximum employment and price stability.

The federal reserve at the end of the day isn't all powerful in our country the government grants the power to the federal reserve under congressional mandate and if it no longer served the interests of the government or the United States they wouldn't keep it.

 

[Anti Globalist]

If he wants to fire him he should do it this instant instead of talking about it.