In a spectacular display of impatience that would make a caffeinated squirrel look zen, US President Donald Trump has thrown fresh shade at Federal Reserve Chair Jerome Powell — or as Trump now lovingly calls him, “Too Late” Powell. Apparently, Powell’s refusal to slash interest rates at breakneck speed has escalated what might be the longest-running game of financial chicken, risking the central bank’s cherished right to ignore politics (or at least pretend to).
While the European Central Bank was busy trimming rates with the enthusiasm of a gardener pruning a bonsai on April 17, Powell apparently hit the snooze button in the United States, despite inflation deciding to take a little nap itself. Trump didn’t mince words on Truth Social, which is where you go when you want your policy critiques served with extra cheese and ding-dong drama:
“Powell’s termination cannot come fast enough!” – trust us, the caps lock wasn’t accidental.
Not to be outdone, Florida Senator Rick Scott chimed in with the subtlety of a fire alarm, announcing it’s “time for new leadership at the Federal Reserve.” Because what could say fresh ideas better than a political tag team echoing the same tough love?
This public roasting breaks a decades-old etiquette rule that basically said, “Thou shalt not publicly roast the Fed Chair,” since meddling with the central bank’s political independence is frowned upon unless you’re into that sort of thing.
Powell, meanwhile, has taken the high road (or maybe just the legal one), reminding everyone at the Economic Club of Chicago on April 16 that Fed independence isn’t a suggestion, but literally “a matter of law.” He’s sticking around until May 2026 unless someone invents a time machine or a better argument.
Crypto and Risk Assets: Waiting for Fed Guidance Like It’s the Latest Season of a Binge-Worthy Show
The Federal Reserve wields the sort of influence in the financial universe that could make a black hole blush, shaping everything from dollar liquidity to investor emotions. Since COVID-19 crashed the party, crypto markets have gotten tangled in this gravitational pull too. Turns out, the fate of your Bitcoin is now about 65% determined by the liquidity conditions brewed at the Fed’s policymaking cauldron, according to some brainy professors from Kingston University of London (who really should get out more).
With inflation twitching like a cat on a hot tin roof and trade wars throwing tantrums on the global stage, Fed officials have their hands full. Yet Powell sticks to a “wait-and-see-what-the-tariffs-do” approach that’s about as reassuring as a toddler holding your smartphone.
The Fed’s next meeting in May is expected to be so chill you could hang laundry in there—they’re likely to maintain their wait-and-see vibe. Futures markets are currently giving less than a 10% chance of any rate cuts in May, but hey, optimism springs eternal with over 65% betting on June. Strap in, folks, the rollercoaster continues.
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2025-04-17 23:09