Trump Threatens to Fire Fed's Powell

Published APR 15

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The Spin

Jerome Powell has been a disaster as Fed Chair, dismissing a $39 trillion national debt as no big deal while American families suffer the consequences. No Fed Chair in over 70 years has clung to the Board after a term ends, yet Powell is signaling he'll stick around anyway. Powell needs to go — the Fed's credibility and the country's financial future depend on it.

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Threatening to fire Powell is a losing move legally, politically and economically — SCOTUS has already made clear the president lacks that authority. An independent Fed is the bedrock of American prosperity, and bullying a Fed Chair over interest rates torches the rule of law. Senate Republicans don't have the votes to confirm a replacement, making this nothing more than a political tantrum.

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