President-elect Donald Trump has sent mixed signals for years on whether he would fire or demote Jerome Powell. But Powell made it clear Thursday that he won’t be going anywhere even if Trump tried.

Summary

Federal Reserve Chair Jerome Powell asserts that he cannot be fired by President-elect Donald Trump, citing legal protections under the Federal Reserve Act.

Trump has previously expressed his desire to remove Powell, but legal experts argue that a policy disagreement would not constitute “for cause” removal.

  • @Nightwingdragon@lemmy.worldEnglish
    64•21 days ago

    For those who are saying “Trump can’t do this or can’t do that…”

    Yes. Yes he fucking can.

    The American people just voted, in a landslide, in favor of Trump’s agenda. And they voted to send more MAGA people to Congress to help him. They have full control of all 3 branches of government now, with comfortable majorities.

    The Supreme Court just said Trump is immune from prosecution for official acts, which they define as “whatever Trump says they are, unless we say otherwise.”

    There are no more “moderate” Republicans. Anyone who is not fully on board the Trump train has been weeded out. They are there to rubber stamp Project 2025. And there’s not a single one left who would dare to speak, let alone vote, against him.

    This is a “Do what I want and get away with it” administration. Trump will do what he wants. And if it’s not legal, Congress is there to make it legal. And if it’s unconstitutional, the Supreme Court is there to make it Constitutional.

    Understand this. There are no guardrails any more. They’ve all been removed. And rather than defend Democracy, the American people just handed them the tools to do it. Trump can do what he wants, will do what he wants, and he’ll do it to the thunderous applause of the American public.

    Authoritarianism is here. It’s covered in spray-tan. And it’s going to be sworn in in January.

    Remember, Arab-Americans. You refused to vote for Harris because of Gaza. When Israel ratchets up the genocide with Trump’s blessing, remember that you voted for this.

    Remember, Latino men who wouldn’t vote for Harris because she’s a woman. When you get caught up in the mass deportations or half of your friends get sent back to their home countries, remember that you voted for this.

    Same with the white guys. When you lose that cushy federal job because your answers on a random questionnaire weren’t MAGA enough, remember that you voted for this.

    When it’s your daughters bleeding out in a parking lot because of a national abortion ban, remember that you voted for this.

    You think you’re strapped for cash now? Trump’s new tariffs are going to cost you on average about $400 a month. You won’t get anything out of it. You’ll just be spending $400 a month on literally nothing because the guy you voted for doesn’t understand how tariffs work. And that doesn’t even count price hikes from the ripple effects of the tariffs and what it will do to the entire supply chain. Hope you’ve got a plan, because again…you fucking voted for this.

    And this doesn’t even take into account the fact that Republicans just got finished admitting that they were lying about Project 2025 all along. They know how unpopular it is. They know people see it as a power grab. THEY OPENLY ADMITTED FUCKING LYING TO YOU TO GET THEIR AGENDA PASSED. JD VANCE OPENLY ADMITTED LYING TO VOTERS IN ORDER TO SHAPE THE NARRATIVE. AND YOU STILL VOTED FOR THEM. And they couldn’t even wait 24 hours before taking the masks off and laughing directly in your face. Project 2025 is what we do know about. I’m fearful of what else they’ve been withholding that they plan on doing.

    Y’all are about to find out that the most expensive trip in your lives is going to prove to be the trip to the voting booth that you didn’t take. We’ll all be paying for that for decades to come.