Federal Reserve's Jerome Powell to be Fired (imminent)

[Melensdad]

Not sure what Representative Luna knows.

But there is no secret that Trump is critical of Powell.

Yesterday we got CPI inflation numbers that were below Wall Street's expectation. Not by much, but still below. That follows a month ago's numbers that were also below expectation, which followed the prior months similar numbers. Today we should have an updated PPI number released, and early reports are those will be below expectations too.

To my mind he delayed the rise of interest rates for way too long and now he is holding rates too high for too long. But I am not a fancy degree economist. Just seemed like the statements under Biden that inflation was 'transitory' and therefore no reason to raise rates was blatantly false, everyone on 'main street' could see the inflation was heating up day to day, week to week and that is when Powell and the Fed delayed the increase in rates. Now it seems obvious on main street that inflation is tamed, the job market remains pretty strong, not saying we are out of the woods, but clearly a cut in interest rates is LOOOOONG overdue. Just my simple minded opinion.

 

[FTG-05]

Good. Trump hating POS.

 

[Melensdad]

Now I have no clue if Powell can be fired. That is something that is apparently, legally, difficult to do. There have to be established 'grounds' for dismissal.

But what I do know is that CNBC is reporting that there was, effectively zero wholesale price inflation in the new release of the numbers.

https://www.cnbc.com/2025/07/16/ppi-inflation-report-june-2025.html

Wholesale inflation measure was unchanged in June​

Jeff Cox​

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A measure of wholesale prices showed no change in June, providing a conflicting sign over whether tariffs threaten to boost inflation in the coming months.​

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The producer price index was flat, according to seasonally adjusted numbers from the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 0.2%.​

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The same was true for core PPI, which also was expected to show a 0.2% increase.​

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Combined with Tuesday’s consumer price index release, the data suggests that President Donald Trump’s tariffs are indicating only a marginal bite on the U.S. economy and the prices for goods and services.​

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Though the numbers for headline and core wholesale inflation were subdued, final demand goods prices rose 0.3%, though they were offset by a 0.1% fall in services. Within the goods category, tariff-sensitive communication equipment posted a gain of 0.8%. Core goods prices also rose 0.3%.​

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At the same time, the PPI level for May, initially reported as a 0.1% increase, saw an upward revision to a 0.3% gain. A 0.3% gain for goods is the biggest gain since February, the BLS reported. . .

STORY CONTINUES at CNBC Link Above ^^^​

 

[waybomb]

Trump should fire EVERY swamp creature.
I'm just a peon, and don't have an entire government to run, but when I was running things at the factory, if there was a constant negative person, they were given the opportunity to find someplace better.

 

[Melensdad]

It looks like Powell won't be filing for unemployment compensation.

Trump calls Fed chairman 'numbskull' but suggests he's disinclined to fire him

Trump said he would prefer if Jerome Powell resigns.

justthenews.com

FULL STORY at LINK ^^^

Trump calls Fed chairman 'numbskull' but suggests he's disinclined to fire him​

Trump said he would prefer if Jerome Powell resigns.​

President Donald Trump said Thursday he believes Federal Reserve Chairman Jerome Powell is a "numbskull" who has mismanaged monetary policy and his own headquarters' renovation, but suggested he would prefer not to fire him and instead leave him room to resign before his term ends.​

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"I'd love if he wants to resign," the president told the Just the News, No Noise television show in a wide-ranging interview to be aired Thursday night on Real America's Voice when asked whether he would fire the Fed chairman. "That would be up to him."​

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"They say it would disrupt the market if I did (fire him). . .​