"Trump seems to have grasped that trying to fire Powell would be more trouble than it's worth, both politically and legally. But that hasn't stopped Trump's minions from targeting Powell in an effort to gin up justification to terminate the chair "for cause.""
"Trump's chief instigator is Bill Pulte, director of the Federal Housing Finance Agency and the chairman of Fannie Mae and Freddie Mac, who spends his days spelunking through confidential financial documents looking for dirt on Trump's enemies. He's the one who came up with the allegation that Federal Reserve Board Member Lisa Cook had lied on a mortgage application."
"It looks like I will be able to tour the Fed's $2.5 Billion Building Renovation, which is good, because I believe it's riddled with Fraud and likely explains the gross negligence that Jerome Powell has exhibited in his 'hallucinations' that tarriffs cause inflation (they don't)."
Trump has long pressured Federal Reserve Chair Jerome Powell to lower interest rates to zero, viewing this as economically justified despite it being a contraction-fighting tool. Unable to directly fire Powell due to political and legal obstacles, Trump's administration has deployed allies to manufacture grounds for removal "for cause." Bill Pulte, director of the Federal Housing Finance Agency, leads this effort by scrutinizing confidential financial documents. After successfully targeting Federal Reserve Board Member Lisa Cook with mortgage application allegations, Pulte shifted focus to Powell, seizing on cost overruns in Federal Reserve building renovations as justification. This narrative quickly became official Trump administration messaging, with White House officials amplifying the allegations through social media.
#federal-reserve #trump-administration #powell-removal-efforts #political-pressure-on-central-banking #government-accountability
Read at Above the Law
Unable to calculate read time
Collection
[
|
...
]