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Posted on 08/27/2025 6:51:05 AM PDT by karpov
Mr. Trump has resisted his itch to fire Fed Chair Jerome Powell on the savvy advice that he could rattle markets and trigger an extended court battle. But Ms. Cook said Tuesday she’ll challenge her removal, so Mr. Trump will still get his legal fight in what could be a landmark case.
The Cook firing is a calculated putsch. Federal Housing Finance Agency director Bill Pulte teed up the dismissal last week when he posted a criminal referral for Ms. Cook on social media. He said she may have committed mortgage fraud by claiming two different homes as primary residences on mortgage applications in 2021, which may have enabled her to get favorable loan terms.
Intentionally misrepresenting information on a mortgage application is wrong and a federal crime. But we haven’t seen the details or Ms. Cook’s explanation. There’s also a question of selective prosecution, since Mr. Pulte’s crackdown on mortgage fraud seems to be aimed only at Mr. Trump’s opponents. Ms. Cook deserves more due process than a presidential declaration of guilt on Truth Social.
The criminal referral is a threat to other Fed governors: Cut rates, or else. It is also a pretext to fire Ms. Cook “for cause.” The referral, Mr. Trump wrote to Ms. Cook, provides “sufficient reason” to believe she “exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.”
Federal law lets a President remove Fed Governors “for cause,” but it doesn’t clearly define the term. Some statutes that provide removal protections for heads of other agencies define “for cause” as wrongdoing in office. The Federal Trade Commission Act mentions “inefficiency, neglect of duty, or malfeasance in office.”
(Excerpt) Read more at wsj.com ...
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Audit or abolish the federal reserve.
BTTT
WSJ skips over Letitia James’ persecution of Trump on mortgage fraud allegations, having been elected to do just that.
Trump won his case, because it was a nothing burger.
All these Trump Haters’ cases seem to be open and shut guilty situations in comparison.
So what the WSJ hates is good prosecutions, and covers up bad prosecutions.
WSJ has TDS daily and thoroughly.
What if Congress did away with the Federal Reserve and did their Constitutionally required job (Article I, Section 8, Clause 5) instead of saddling generations of Americans with debt instruments?
Let’s put it this way: The Fed has been dragging its feet on rate cuts. Rate cuts are warranted by conditions in various sectors of the economy, particularly housing. Rate cuts now will largely determine the state of the economy in 12 months, immediately before the mid-term election. Delaying rate cuts may shade the economy, leading to Democratic party gains in the House and endless impeachment during the 2nd half of Trump’s term. Rate cuts sooner rather than later. Whatever it takes.
The Senate should invoke the “nuclear option” and eliminate the 60 votes required to overcome the “Filibuster.”
Then, revise the Fed, eliminate its independence, and then push through a comprehensive Judicial Reform law to create no path for LawFare and to create huge penalties for those who conspire to commit LawFare.
WSJ even got a Hitler reference in there! “putsch” !!!
How very Nazi of the TDS-afflicted WSJ
Stopped reading at the Wall Street Journal
What if CONGRESS does its job to "coin money, and regulate the value thereof" and to "borrow money on the credit of the united States".
Quit reading at
“putsch”
Biased much ?
Screw you WSJ.
The “Fed” ain’t federal. It is a bunch of one-world bankers running the country. It is illegal. It needs to be demolished! The rates should be the job of the Secretary of the Treasury.
Grrrrr! How long can it take to figure this out? Does the word "primary" have more than one meaning? Did she commit tax evasion?
He won the ridiculous award amount. If they had a reasonable amount, he’d probably have to pay it.
Let’s put it this way: The Fed has been dragging its feet on rate cuts. Rate cuts are warranted by conditions in various sectors of the economy, particularly housing. Rate cuts now will largely determine the state of the economy in 12 months, immediately before the mid-term election. Delaying rate cuts may shade the economy, leading to Democratic party gains in the House and endless impeachment during the 2nd half of Trump’s term. Rate cuts sooner rather than later. Whatever it takes.
***********
The better policy is rate cuts later. Inflation, though reduced, is still with us. Meanwhile, savers are finally earning a real return on their cash that is not negative.
Republicans would do better to focus the real causes of economic failure: socialism; environmental extremism; and declining productivity due to DEI, a rotten education system, and declining communications skills.
Powell may be an @$$hole but he's probably right. Inflation is better now but it's just around the corner. We shouldn't raise rates for another two or three years until inflation is crushed for sure.
If Lisa cooked the books on her mortgages, why should we trust her to not cook the books on her job. 🤔
The short answer is that will be run more much better and the economy will thrive if Trump ends up controlling what the Federal Reserve does.
Agreed.
The solution is not The President running the Federal reserve.
The issue is whether, in 2025 the US is best when an unelected small, secretive group has so much power.
The voices concerned about “democracy” should be loud and clear on this.
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