If Trump gets rid of Jerome Powell will the US & World Economy Fall apart?

[Joe]

Trump said recently he would like to fire Fed Chairman Jerome Powell who also happens to be a Republican:



Question after Powell is gone & Trump replaces him with a puppet, will he blow up the US & therefore the World Economy?

Basically put if the US has a Fascist Madman as their President & he pulls all the economic levers there's little to stop Trump.

Trump almost tanked the Bond Market until he was was told to pause his tariffs.

 

[The Prowler]

Sell Sell Sell!!!!!!

 

[Reggie_Essent]

Yes, Joe. The end of the world is nigh. You should sell all your collectables and stock up on zombie apocalypse food.

I have many MREs in storage. I can sell you a few years supply for the appropriate price.

 

[Lily]

Trump said recently he would like to fire Fed Chairman Jerome Powell who also happens to be a Republican:



Question after Powell is gone & Trump replaces him with a puppet, will he blow up the US & therefore the World Economy?

Basically put if the US has a Fascist Madman as their President & he pulls all the economic levers there's little to stop Trump.

Trump almost tanked the Bond Market until he was was told to pause his tariffs.

He's making himself the billionaire he always wanted to be.

Thanks 'Murica!!

The rest of us can go pound sand.

 

[The New Holliday]

Yes, Joe. The end of the world is nigh. You should sell all your collectables and stock up on zombie apocalypse food.

I have many MREs in storage. I can sell you a few years supply for the appropriate price.

You got the Swanson or Marie Callender? Oooo sooo good !

 

[Joe]

He's making himself the billionaire he always wanted to be.

Thanks 'Murica!!

The rest of us can go pound sand.

I'm surprised more Americans haven't called out Trump on the tariffs and insider trading. Even Republicans have warned that Trump's shenanigans are dangerous and could crash the Stock Market.

This is exactly what happened in 1929. Massive insider trading, pump n dump schemes crashed the stock market which led to the Great Depression.

And this tariffs agenda is absolute bullshit because the only ones they're gonna enrich are Trump & his Oligarch friends.



. But most Americans will end up poorer & I've noticed even some Republicans have grudgingly admitted that Tariffs are a tax on the middle class.

 

[Reggie_Essent]

You got the Swanson or Marie Callender? Oooo sooo good !

Military Grade. Unlimited shelf life.

 

[The Prowler]

Time to Buy!!!

Buy Big!!!!!!

 

[Jack]

He can't fire Powell.

Next?

 

[LotusBud]

Trump said recently he would like to fire Fed Chairman Jerome Powell who also happens to be a Republican:



Question after Powell is gone & Trump replaces him with a puppet, will he blow up the US & therefore the World Economy?

Basically put if the US has a Fascist Madman as their President & he pulls all the economic levers there's little to stop Trump.

Trump almost tanked the Bond Market until he was was told to pause his tariffs.

If someone doesn't stop him, the entire world economy is going to collapse and China will be the victors.

 

[Jack]

Can a president fire a Fed chairman?

The president does not have the legal authority to dismiss a chairman before the end of a term, although this fact has never been challenged in court. The current chairman is Jerome Powell, who was sworn in on February 5, 2018.

 

[LotusBud]

Can a president fire a Fed chairman?

The president does not have the legal authority to dismiss a chairman before the end of a term, although this fact has never been challenged in court. The current chairman is Jerome Powell, who was sworn in on February 5, 2018.

Trump is doing all kinds of things he doesn't have legal authority to do, though, and no one is stopping him.

 

[Lily]

Trump is doing all kinds of things he doesn't have legal authority to do, though, and no one is stopping him.

He is openly defying even the SCOTUS. he doesn't believe in co-equal branches of government. Three months in and he's dictator light.

And we have 3 years and 9 months to go.

 

[LotusBud]

He is openly defying even the SCOTUS. he doesn't believe in co-equal branches of government. Three months in and he's dictator light.

And we have 3 years and 9 months to go.

It's horrifying.

 

[Jack]

Trump is doing all kinds of things he doesn't have legal authority to do, though, and no one is stopping him.

He still cant fire Powell.

Watch what happens if he tries.

 

[Lily]

It's horrifying.

I'm sick to death of this shit.

What the fuck is it going to take for people to wake the fuck up?

Even, Garraty, bless his heart, who should know better, still goes about squawking about Obama.

Jesus f'ing Christ!!!!!!

 

[Lily]

He still cant fire Powell.

Watch what happens if he tries.

What, Jack, what?

What's happened to him for all the shit he's been doing since 2015?

 

[Jack]

I'm sick to death of this shit.

What the fuck is it going to take for people to wake the fuck up?

Even, Garraty, bless his heart, who should know better, still goes about squawking about Obama.

Jesus f'ing Christ!!!!!!

the inherent racism still lingers.

Tough being the first black guy to hold that office...

 

[Lily]

the inherent racism still lingers.

Tough being the first black guy to hold that office...

I don't think Garraty is racist at all. I think he has Democrat Derangement Syndrome.

 

[Jack]

I don't think Garraty is racist at all. I think he has Democrat Derangement Syndrome.

Then why lie about Obama endlessly?

 

[Lily]

Then why lie about Obama endlessly?

I haven't seen him lie. Not that I recall.

Look, Obama was a disappointment just like most Democrats have been for decades.

I just know Trump is worse.

 

[Joe]

It's horrifying.

The scary part is after Powell's term ends in 2026.

And it is the US President who appoints the next Fed Chairman.

Question being, what if Trump appoints somebody incompetent who is swayed by his whims? This could destroy the economy if he ends up being Trump's poodle/lap dog. From NYT:

Mr. Trump’s dislike for Mr. Powell is more than a personal spat. It’s a direct challenge to the economic foundation that has helped make America prosperous for generations. The Federal Reserve, established in 1913 and reconstituted in 1935, manages interest rates to ensure credit doesn’t become too expensive, stifling investment and employment, or too cheap, spurring inflation. The Fed also regulates and supervises financial institutions to ensure they are financially sound.​

Just like Trump never cared about bankrupting all those companies he may not stop there & will do it to the US as well. Trouble is it also happens to be the main driver or engine of the World Economy.

So if ya'll got money in the stock markets & retirement plans gotta be wary what comes next especially after Powell is gone when his term ends.

 

[The New Holliday]

what if Trump appoints somebody incompetent who is swayed by his whims?

What if? He has a track record, you know. There's no What ifs about it.

 

[Weeg]

So yoo are saying Powell is the only reason America has not fallen apart?

 

[Jack]

Question being, what if Trump appoints somebody incompetent who is swayed by his whims?

Trump appointed Powell IIRC?

 

[The New Holliday]

Trump appointed Powell IIRC?

You are correct.

 

[Lily]

The scary part is after Powell's term ends in 2026.

And it is the US President who appoints the next Fed Chairman.

Question being, what if Trump appoints somebody incompetent who is swayed by his whims? This could destroy the economy if he ends up being Trump's poodle/lap dog. From NYT:

Mr. Trump’s dislike for Mr. Powell is more than a personal spat. It’s a direct challenge to the economic foundation that has helped make America prosperous for generations. The Federal Reserve, established in 1913 and reconstituted in 1935, manages interest rates to ensure credit doesn’t become too expensive, stifling investment and employment, or too cheap, spurring inflation. The Fed also regulates and supervises financial institutions to ensure they are financially sound.​

Just like Trump never cared about bankrupting all those companies he may not stop there & will do it to the US as well. Trouble is it also happens to be the main driver or engine of the World Economy.

So if ya'll got money in the stock markets & retirement plans gotta be wary what comes next especially after Powell is gone when his term ends.

He will appoint someone who will do as they're told, economic fallout be damned.

 

[Joe]

Trump appointed Powell IIRC?

You guys have a Monster for a President @Jack . A real nutcase

Geez no wonder so many Americans want Mark Carney to win the next Canadian election.

Because he's the next best thing to providing a check/balance to the Trump administration.

Carney a former Bank Governor, and a consortium of World Bank governors recently orchestrated a 'slow bleed' bond selloff which forced Trump to pause the tariffs. Trump was blowing up the bond market which would have crashed the stock market. Even JP Morgan CEO Jamie Dimon sounded the alarm. And he supported Trump in your last election

Maybe they'll have to gang up on Trump again just so he he won't do anything too crazy.

 

[LotusBud]

The scary part is after Powell's term ends in 2026.

And it is the US President who appoints the next Fed Chairman.

Question being, what if Trump appoints somebody incompetent who is swayed by his whims? This could destroy the economy if he ends up being Trump's poodle/lap dog. From NYT:

Mr. Trump’s dislike for Mr. Powell is more than a personal spat. It’s a direct challenge to the economic foundation that has helped make America prosperous for generations. The Federal Reserve, established in 1913 and reconstituted in 1935, manages interest rates to ensure credit doesn’t become too expensive, stifling investment and employment, or too cheap, spurring inflation. The Fed also regulates and supervises financial institutions to ensure they are financially sound.​

Just like Trump never cared about bankrupting all those companies he may not stop there & will do it to the US as well. Trouble is it also happens to be the main driver or engine of the World Economy.

So if ya'll got money in the stock markets & retirement plans gotta be wary what comes next especially after Powell is gone when his term ends.

These are terrifying times, Joe. True Americans should always want to elect a president who knows and understands more than they do and who is calm under pressure, not a halfwit who makes them feel comfortable because he's as ignorant as they are and is a mirror for their own kneejerk reactions to their hatreds and fears.

 

[Mr. Wednesday]

If Trump gets rid of Jerome Powell will the US & World Economy Fall apart?

No, it won't.

These are terrifying times, Joe.

No, they aren't.