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Trump Threatens to Fire Treasury Sec. Scott Bessent and Fed Chair Jerome Powell

2025-11-19 News & Politics
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The Bulwark
The Bulwark
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Trump's Fed Threats and the Market's Unsettling Calm

Understand the profound economic danger posed when political leaders attempt to seize control of the Federal Reserve's monetary policy and why markets have yet to panic.

Short Summary

  • Donald Trump actively broadcasts his desire to fire Jerome Powell to force lower interest rates immediately.
  • Co-opting the Fed risks destabilizing long-term price stability, leading to inflation spikes similar to historical failures in other nations.
  • Administration figures aggressively jockey for influence, which risks eroding the Fed's critical, necessary political independence.
  • Markets remain strangely calm despite these clear threats, perhaps counting on rollbacks or judicial intervention regarding policy shifts.

This discussion breaks down exactly why political interference with interest rates creates severe, self-fulfilling inflation problems. We examine the roles key administration figures play in calming—or fueling—Wall Street volatility amidst these severe policy risks.

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Description

Trump publicly fantasized about firing Jerome Powell and installing a more compliant Fed chair. Andrew Egger and Catherine Rampell break down why Trump’s threats to seize control of monetary policy could destabilize inflation, markets, and the entire economy—and why Wall Street still seems weirdly calm about it. Become a Bulwark Youtube Plus Member here - https://www.youtube.com/channel/UCG4Hp1KbGw4e02N7FpPXDgQ/join

Top Comments (10)

@larryapple6507 2025-11-19

Trump forgets he hired Powell.

527 25 replies
@atomic_918 2025-11-19

Bessent has the intellect of a jellyfish and the spine of one too.

397 19 replies
@Caldonia130 2025-11-20

Get rid of this lunatic who is bowing down to Saudi Arabian dignitaries while dissing his own people. He truly is a traitor to our country and anyone who thinks Trump is funny is in denial.

366 5 replies
@brendasnow8255 2025-11-19

Speaking of “grossly incompetent “…

318 3 replies
@ladymary22 2025-11-19

Trump thinks Powell has mental problems, but thinks Loomer is healthy?🎉

309 11 replies
@OntCan 2025-11-19

Qualifications are not required...none of the people in the administration are qualified to perform the duties of their job

301 12 replies
@michaelshmigalsky9565 2025-11-20

The constant stupidity is exhausting me!

288 7 replies
@bradanderson7105 2025-11-19

DID POWELL NOT DEBUNK THE "4-BILLION BUILDING" THING TO TRUMPS FACE IN REAL TIME AS HE LIED THE LIE???

274 17 replies
@michaelhackett3715 2025-11-19

I think Trump has aged 10 years in the last week.

253 22 replies
@veronicasawyer77 2025-11-19

it’s like the worst atlantic city act you’ve ever seen

84 1 replies

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