President-elect Donald Trump has always been a straight shooter, and his stance on the Federal Reserve is no exception. During his campaign, Trump made it clear that the Fed’s so-called “independence” should not exempt it from accountability. He even argued that the president should have a say in the central bank’s interest-rate decisions—something that has sent establishment economists clutching their pearls.
Fed Chair Jerome Powell, clearly not a fan of Trump’s no-nonsense approach, has already staked out his position, claiming he wouldn’t resign even if asked. Powell says Trump doesn’t have the legal authority to fire him. Of course, Democrats and establishment economists are now spinning this as an impending “crisis” between the Fed and the incoming administration, because they never miss a chance to paint Trump as the villain.
NEWS: Fed Chair Powell says he will NOT resign, even if Trump asks him to step down. @vtg2: If he asked you to leave, would you go?
Powell: "No." pic.twitter.com/4U3NWHekAJ
— Heather Long (@byHeatherLong) November 7, 2024
Enter Dario Perkins, an economist at TS Lombard, who gleefully predicts a “showdown” between Trump and Powell. Perkins suggests that Powell could weaponize the bond market—yes, weaponize it—to push back against Trump’s populist policies like tax cuts, tariffs, and deporting undocumented immigrants. Apparently, the idea of putting America First is just too radical for the globalist elites.
Perkins argues that Powell will stand firm against any influence from Trump, claiming that bending to Trump’s will would “destroy [Powell’s] legacy.” Instead, Perkins fantasizes about Powell going down in history as the “guy who tamed post-COVID inflation,” conveniently ignoring the fact that Powell’s policies helped create the inflation crisis in the first place.
Here’s the truth: Trump isn’t trying to bully the Fed—he’s trying to ensure that American families and businesses aren’t crushed by sky-high interest rates. Democrats and their media allies love to frame Trump’s policies as “chaotic,” but the real chaos is what we’ve seen under Biden: out-of-control inflation, reckless spending, and economic stagnation.
Trump’s approach is simple: hold the Fed accountable, keep interest rates reasonable, and prioritize the American worker. If Powell wants to play games with the bond market to protect his legacy, he’ll only prove Trump’s point that the Fed is more interested in protecting Wall Street than Main Street.
The left can’t stand the idea of Trump restoring fiscal sanity, so they spin doomsday scenarios like “Trump-inspired chaos at the Fed.” But here’s the reality: Trump’s first term delivered historic economic growth, low unemployment, and rising wages. The Fed wasn’t a roadblock then, and it won’t be this time either.
Democrats want you to believe that Powell and the bond vigilantes are the heroes standing between Trump and financial apocalypse. But the real story is much simpler: Trump is fighting for the American people, while the establishment clings to its power and its failing status quo.
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