Trump Said to Discuss Firing Fed's Powell After Latest Rate Hike

[pat_k]

14. In his current state, nothing DT does would surprise me

He is flailing. Beyond petulant. Raging. Looking to exert "control" anywhere he can. Casting off the shackles (voices of relative sanity) that have previously "curbed" his dangerous impulses.

He is too pissed to consider the real consequences of removing Powell for some bullshit "cause."

From this article:

The Federal Reserve Act doesn’t explicitly give the U.S. president power to fire the Fed board members. But section 10 has a mysterious little phrase indicating it’s at least possible.

“…thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.”

There is apparently no definition of what "cause" might constitute.

As he rages against reports that he needs "adult supervision," I think "removing" Powell could well be one of the more likely bits of rebellion against sanity. In this current state, I think that the more others advise against it, the more likely he will be to do it.