The Department of Justice has opened a CRIMINAL investigation against Chairman Powell of the Federal Reserve. I have totally disagreed with trump on interest rates and he assumes that the Fed can just lower rates counter-trend to the world economy. I understand he is acting on what was taught in school under Keynesian Economics. But that has totally failed and even Keynes admitted before he died that he was wrong.
Using the Department of Justice as the Biden Administration did against him is one thing when we are looking at the attempt by the Neocons to prevent him from office with the outrageous Russia Gate that they totally manufactured. But to allow the Department of Justice to use the criminal law to get interest rates lower is a new political low. Powell stated:
“Those are pretexts,” Powell said. “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president.”
It was 75 years ago when President Truman sought to intimidate the Fed to cap interest rates because he wanted to wage war in Korea. It did not work. If Trump thinks he can replace Powell with a chimpanzee who does whatever he says, we are in for a real crisis post-2027. Jerome Powell’s current term as Chair of the Board of Governors of the Federal Reserve System ends on May 15th, 2026. The computer has been showing a sharp rise in volatility post May 2026. Trump will be confronted with the free market which he cannot control.