With regard to the President’s campaign to take control of the Federal Reserve, Steve Benen notes:
Just as importantly, if not more so, is the inconvenient fact that Trump can’t legally fire Powell without cause, even as the president suggests otherwise. If he were to try to take such a step, it would face immediate pushback in the courts, while simultaneously adding a fresh round of chaos and uncertainty to the markets.
It occurs to me that this is what you get from next-quarter thinking – frantic flailing. Whether it’s Donald Trump, Elon Musk, or any of a number of egotistical businessmen, their behavior turns out to be the same – focused on the next play, rather than winning the game.
