Economic News | March CPI lower than expected

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Trump Has for Months Privately Discussed Firing Fed Chair Powell​

The president hasn’t made a decision on whether to try to oust Powell, and some of his advisers have warned against the move​



“…In meetings at the president’s private Florida club, Mar-a-Lago, Trump has spoken with Kevin Warsh, a former Fed governor, about potentially firing Powell before his term ends and possibly selecting Warsh to be his replacement, the people said.

Warsh has advised against firing Powell and has argued that he should let the Fed chair complete his term without interference, according to the people. The conversations with Warsh carried into February, while others close to the president have spoken to Trump about firing Powell as recently as early March, the people said.

At a meeting in the Oval Office on Thursday, Trump expressed confidence that he had the authority to oust Powell. “If I want him out, he’ll be out of there real fast, believe me,” Trump said. The president added that he is “not happy” with Powell and accused him of “playing politics” with interest rates.

Any effort by Trump to fire Powell would almost certainly end up before the Supreme Court. It could leave a cloud of scrutiny over Powell’s ultimate replacement, and any prospect that the Fed chair could be sacked over a policy dispute would likely tank financial markets. …”
 
Yeah, firing Powell would cause a bloodbath in the markets. Probably 08 levels of malfunction, though in different ways.

Trump the dumbass doesn't realize what he's asking for. Lowering rates = inflation. Trump, a chronic debtor, can't think of interest rates other than "low = good"
 
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