Trump Has for Months Privately Discussed Firing Fed Chair Powell

I think it's telling that the WSJ felt that Thursday afternoon before a Holiday was a good time to release this article.

And if you thought Bessent was the responsible adult, in two different occasions last year, he suggested that thanks to forward guidance, you could appoint a shadow Fed Chair and the markets will not listen to what Powell has to say anymore.

Firing Fed Chair Powell would be a highly destabilizing move, drastically increasing the perceived political risk of investing in U.S. Treasuries. The resulting pullback in foreign investment would place immense pressure on the U.S. government's ability to fund its operations, demanding much higher interest rates to attract any investment. Since Trump is expected to demand interest rates to be lowered, it's unlikely the U.S. government will receive the funding they need to continue operations.

Note that Powell's term ends May 2026 anyhow.

One way or another, feels like only a little while before Trump directed stagflation of the most absurd heights kicks off.

But does he want another day down 6000 points - maybe 2?