Welcome to The Logoff. Today, we're breaking down President Trump's ongoing conflict with Federal Reserve Chair Jerome Powell. Recently, Trump urged Powell to lower interest rates and declared that his "termination cannot come fast enough!" This comes after Powell warned that Trump's tariffs could harm the economy, a view most economists support but one that clashes with Trump's trade promises.

Can Trump actually fire Powell? Legally, it's tricky. The Fed chair can only be fired for cause, like corruption or incompetence, though the Trump administration claims the president has the right to dismiss any employee at independent agencies. If Trump pursued this, it would likely mean a court battle. As it stands, Powell’s term runs until May 2026, and attempts to oust him would represent a significant power shift, undermining the essential independence of the Fed.

While Trump has frequently criticized Powell, often threatening him without taking action, it’s worth noting that his administration recently excluded the Fed from efforts to consolidate power over independent agencies. This all raises the question: Are Trump’s attacks simply the new norm? In today’s political landscape, they might just be standard operating procedure.

That’s it for today—thanks for tuning in!
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