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Welcome to Achievement: Today I want to add a little perspective to the attack of President Donald Trump against the president of the Federal Reserve, Jerome Powell, which was news but it might not be a crisis, at least not yet.
What is the latest? Trump criticized Powell today, urging the head of the Central Bank to lower interest rates and saying his “termination It can’t come quick enough! “Powell had said Wednesday that Trump’s rates could Slow growth and increase inflation – An analysis shared by the fixed majority of economists but contradicts Trump’s promises about their commercial policies.
Can Trump get rid of or Powell? The law that created the Fed says the chair You can only say goodbye to causeSuch as corruption or incompetence, and The precedent of the Supreme Court agrees. However, the Administration argues that the Constitution gives the President the right to fire employees of independent agencies, such as Fed, at will. If Trump tried, the fight would probably end in court. Otherwise, Powell’s four -year period as president of the Fed ends in May 2026.
So, is this a big problem? A real movement to shoot Powell would be a power outlet with great implications. The independence of the Fed is essential for economic administration, and trying to seize control or central banks is directly outside the authoritarian play book. But Trump has posted on the Fed, often for Despise and threaten PowellMore than 100 times since he nominated him in 2017, however, it has never taken any action to say goodbye. For now, at least, there is no evidence that it is different this time.
So what is the general panorama? In another administration and time, the president demands that the lowest interest rates of the FED be an important breach of the standards. But in a signal of how far we have passed from that baseline, Trump’s attacks against Powell are, at this point, a standard operational procedure.
And with that, it’s time to log in …
No, scientists did not announce the discovery of alien life in A new role Presented yesterday. But they found a sign of a gas that loop be evidence of alien life. And for me, it is fun to think about the search for extraterrestrial life. Thanks for reading, and I’ll see you here tomorrow.
