#PowellCrisis ๐จ๐จ
The Powell drama just went international. French Finance Minister Eric Lombard has issued a stark warning: removing Jerome Powell as Fed Chair could shatter global confidence in the U.S. dollar and trigger widespread economic turbulence. This is no longer just a U.S. issue โ the world is watching. ๐
Trump Turns Up the Heat ๐ฅ
Former President Trump is doubling down, calling for Powellโs immediate ouster. His frustration with Powellโs handling of interest rates is no secret โ and now he's saying the Fed Chairโs โtermination canโt come soon enough.โ
Legality in Question โ๏ธ
But can a president even fire the Fed Chair? Thatโs murky. Legally, Powell can only be removed โfor cause,โ and disagreements over policy might not be enough. A looming Supreme Court case could shift the balance of power over independent agencies like the Fed.
Markets Are Nervous ๐
Wall Street is jittery. Economists warn that Powellโs removal could spark a major sell-off, tank the dollar, and send economic shockwaves across the globe.
Warren Warns of Crash ๐ง
Senator Elizabeth Warren is sounding the alarm, saying political meddling with the Fed could lead to a full-blown market collapse. Sheโs rallying others in defense of the Fedโs independence.
