If you thought U.S. politics was a circus before, wait till you hear this: President Donald Trump, part-time leader, full-time commentator, and lifelong fan of the firing squad (metaphorically, he assures us), has declared that Federal Reserve Chair Jerome Powell should collect his things and exit, preferably through the revolving door marked “Scapegoats.” If, and here’s the small print, the rumors about Powell fiddling with the Fed’s wallet for a $2.5 billion headquarters facelift while Congress had its collective socks off, are true. And let’s be honest, in the world of finance, “facelift” can mean anything from a new coat of paint to replacing the gold-plated avocado toasters in the executive lounge.
Jerome Powell: Hero, Villain, or Just Bad at Home Renovation?
At Tuesday’s cabinet meeting (popcorn not provided), Trump issued several statements, each one sharper than a freshly minted coin. Apparently, Powell’s refusal to cut interest rates has cost the American people billions—number pending confirmation from either the Tooth Fairy or the nation’s top economists, whichever is available first. With the enthusiasm of a game-show host inviting contestants to spin the resignation wheel, Trump suggested Powell should step down faster than you can say, “Rate cut, please!”
If one thing is certain, it’s that the shortlist for Fed Chair is getting a real workout. And not the “30 minutes on the treadmill” kind. More like a frantic dash around Ankh-Morpork with a rubber chicken and a bucket.
Trump, never one to nurse a grudge quietly, also accused the Federal Reserve of being biased—presumably against the time-honored presidential hobby of blaming someone else for inflation. Powell, ever the unwelcome guest at a roast, retorted that maybe, just maybe, tariffs had something to do with higher prices. Shocking, if true.
The president summed up—unapologetically, like a restaurant critic reviewing cold soup: “I think he’s terrible.” 🍲 (That’s the closest emoji to interest rates getting frozen.)
Congress Declares Open Season on Powell (Bring Popcorn)
The plot thickens, like gravy in a cafeteria during budget week. Powell stands accused of treating the Senate Banking Committee to what may politely be called “creative accounting” on the cost of the Fed’s digs. If these allegations grow legs (and, perhaps, develop a liking for public inquiries), Trump’s advice is unequivocal: resign faster than the White House press team can say “clarification.” The new Fed Chair, in Trump’s mind, should be someone with a heavy thumb for the “lower interest rates” button.
Bolstering the comedy of errors: FHFA Director Bill Pulte and Senator Cynthia Lummis took turns insisting the Fed “fibbed” under oath—because nothing in D.C. says serious business quite like pointing fingers while the cameras are rolling. Thus, Powell could be summoned to Congress in July for what promises to be the fiscal equivalent of a pie fight.
The Great Fed Chair Reality Show: Who Will Rise?
Trump claims he’s got two or three contestants ready to win the coveted (if slightly scorched) Fed throne, all eager to dance to his economic tune. The candidates, vying for a seat atop the mountain of paperwork, are:
- Treasury Secretary Scott Bessent: Best known for soothing U.S.–China tension and reportedly making a mean cup of tea, Bessent is the cabinet’s answer to an economic comfort blanket. He’s declared readiness for duty, which in Washington translates to “let me just update my résumé.”
- Kevin Hassett: Star of “White House’s Got Talent” and chief spreadsheet-juggler at the National Economic Council. Famous for agreeing with Trump, twice, in public.
- Michelle Bowman: Vice Chair for Supervision at the Federal Reserve—if chosen, would be the Fed’s second-ever female boss, proving glass ceilings can be cracked even if interest rates can’t.
Honorable mention: veteran economists Kevin Warsh and Christopher Waller, both proud possessors of the kind of C.V. that makes LinkedIn servers groan. They’ve advised presidents, wrangled markets, and possibly moonlighted as contestants on “Who Wants to be Fed Chair?” (Working title.) 🏆
Read More
- USD MXN PREDICTION
- USD IDR PREDICTION
- Gold Rate Forecast
- EUR IDR PREDICTION
- USD RUB PREDICTION
- USD UAH PREDICTION
- EUR USD PREDICTION
- ADA PREDICTION. ADA cryptocurrency
- USD CAD PREDICTION
- USD COP PREDICTION
2025-07-09 10:38