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Posted on 04/23/2025 2:16:22 PM PDT by RandFan
President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar with the conversations said.
The warnings — and the markets’ own volatility this week — seemed to have broken through. Trump backed down Tuesday from his threats to try to remove Powell from the job, telling reporters in the Oval Office: “I have no intention of firing him.”
That prompted sighs of relief on Wall Street. A day after markets boomed on comments from Treasury Secretary Scott Bessent that Trump would seek to de-escalate the trade war with China, US markets gained again on Wednesday.
Top administration officials were also relieved by Trump’s Oval Office statement on Powell, the people familiar with the matter said. The officials had become unnerved by the heated rhetoric and wary of a prolonged legal battle should Trump attempt to unseat the Fed chair.
The Dow closed higher by 420 points, or 1.07%. The broader S&P 500 gained 1.67% and the tech-heavy Nasdaq Composite rose 2.5%.
(Excerpt) Read more at edition.cnn.com ...
He’s the worst Fed Chairman I can remember going back to the late 70s. The clown is the male version of Janet Yellen. An unqualified political hack.
Yes but they claim if you interfere with the sanctity of the FED you risk economic collapse
That’s what they claim and try and spook presidents
The guy is leaving in 12 months or less .
I’m seeing no problem at Walmart
Like Cramer and stocks.
Feet first I hope. Effing lowlife.
The fact that you leaped to a completely unfounded conclusion tells me you’re not worth bothering with.
CNN = Commie News Network.
Gee, Would CNN want to help CHINA???? by hurting Trump?
Hmmmmm? Let me ask MSNBC or The Hill, or The Wall Street Urinal, or Nation Magazine, or the National Disgrace Magazine, or the New York Times.
“Walmart and Target made the warning....”
So let’s fill the shelves with more American made goods
Manufacturing would come back if we could ram tort reform down the liberals’ throats and reduce litigation.
Trump didn’t do anything after Xi blocked rare earth exports, cancelled Boeing orders, etc. Ever since the Bond market moved his admin has been retreating.
So true. I scan their headlines once in a while and they are laughable and so transparently anti-anything with Trump. By their measure, we all should be in bread lines by now.
And the Dim sheeple still eat it up.
CNN - when the woke need recharging.
Trump has a consistent pattern. He sets a big goal and then works back from there and resets to a place higher than the original place.
He might not have had a choice.
According to AI Assist:
Trump cannot fire Jerome Powell without cause, as the Federal Reserve's independence is protected by law. Powell has stated that he cannot be legally removed and plans to serve his term until 2026.
And according to this article: Can Trump fire Jerome Powell as Federal Reserve chair? Here’s what to know.
The Federal Reserve Act of 1913 states that Fed governors can only be removed by the president before the expiration of their terms “for cause,” defined as “inefficiency, neglect of duty, or malfeasance in office.” In a landmark 1935 case, Humphrey’s Executor v. United States, the Supreme Court ruled that President Franklin Delano Roosevelt couldn’t fire a member of the Federal Trade Commission due to policy disagreements.
“The fundamental necessity of maintaining each of the three general departments of government entirely free from the control or coercive influence, direct or indirect, of either of the others has often been stressed, and is hardly open to serious question,” the court ruled.
While Trump might claim cause if he does try to fire Powell, there’s sure to be a protracted court battle.
This should all have been gamed out prior to the election, or at least prior to saying anything about tariffs. I’m all for strong tariffs on China to equalize trade - our economic and foreign policies toward China have been incredibly self-destructive since the Nixon era, as we’ve helped build up a Communist rival. But if we’re going to just back down after 3 weeks, why start in the first place?
Lenovo computers are mostly made in China. Not exactly cheap, or cheaply made, hardware.
I don't know.
But Trump thought enough of Powell to appoint him in 2017.
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Empty shelves at Walmart????
That’s been an ongoing problem for quite awhile now at my Walmart
Maybe Walmart and Target should buy less shite from China?
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