The Trump administration's crusade against Jerome Powell, chair of the Federal Reserve, has finally taken a turn for the absurd. As investigations into alleged lies to Congress swirl around Powell's head like a bad storm, it's clear that President Trump's governing philosophy is nothing short of "do what I want or face the consequences." This mindset has been on full display as Trump wages war against the Fed and its chief, who dared to set interest rates based on best estimates rather than following the president's whims.
Powell's crime? Following orders. Or, more accurately, doing his job without fear of reprisal from a President determined to clip the wings of any institution that dares stand in his way. The investigation into Powell is a test – not just for him and the Fed but for every person or institution that might be tempted to challenge Trump's authority.
Powell's defiance was met with swift pushback, as Trump publicly attacked and threatened to fire the Fed chief for refusing to slash interest rates to stimulate the economy. And now, the administration has launched an investigation into Powell's testimony about a renovation project at the Federal Reserve building – a move that echoes the pretext used by the administration to indict former FBI Director James Comey.
The irony is not lost on observers: who would have thought that Trump's justice department would take aim at someone as committed to independence and tradition as Powell? The investigation raises eyebrows, especially when considered in the context of other recent actions – like the Trump administration's attempt to remove Lisa Cook, a Fed board member accused of mortgage fraud.
For those still unsure, let it be clear: under Trump, there is no such thing as "too much" power. The President has repeatedly demonstrated his disdain for checks on his authority, including those provided by the judiciary and even the Federal Reserve itself. When the Supreme Court hinted at a limit to the president's power in cases involving tariffs and executive branch appointments, Trump's response was swift: he wants 100% compliance, not 90% or 95%.
In this context, Powell's investigation is more than just a personal vendetta; it represents a broader attempt by the administration to undermine the Fed's independence. The stakes are high, as investors, policymakers, and even the judiciary itself begin to take notice.
Make no mistake: Trump will not be silenced or swayed by conventional norms of governance. His vision for America is one-man rule, where he gets his way 100% of the time – and those who dare challenge him must face the consequences. The investigation into Powell serves as a warning sign that this is no longer about policy disagreements but rather about the president's unyielding resolve to crush any opposition.
As we watch this unfolding drama, one thing becomes clear: the fate of American democracy hangs in the balance. Will we stand up for our institutions and the rule of law, or will we succumb to Trump's relentless pressure? The answer, much like Powell himself, remains uncertain – but one thing is certain: it won't be easy.
Powell's crime? Following orders. Or, more accurately, doing his job without fear of reprisal from a President determined to clip the wings of any institution that dares stand in his way. The investigation into Powell is a test – not just for him and the Fed but for every person or institution that might be tempted to challenge Trump's authority.
Powell's defiance was met with swift pushback, as Trump publicly attacked and threatened to fire the Fed chief for refusing to slash interest rates to stimulate the economy. And now, the administration has launched an investigation into Powell's testimony about a renovation project at the Federal Reserve building – a move that echoes the pretext used by the administration to indict former FBI Director James Comey.
The irony is not lost on observers: who would have thought that Trump's justice department would take aim at someone as committed to independence and tradition as Powell? The investigation raises eyebrows, especially when considered in the context of other recent actions – like the Trump administration's attempt to remove Lisa Cook, a Fed board member accused of mortgage fraud.
For those still unsure, let it be clear: under Trump, there is no such thing as "too much" power. The President has repeatedly demonstrated his disdain for checks on his authority, including those provided by the judiciary and even the Federal Reserve itself. When the Supreme Court hinted at a limit to the president's power in cases involving tariffs and executive branch appointments, Trump's response was swift: he wants 100% compliance, not 90% or 95%.
In this context, Powell's investigation is more than just a personal vendetta; it represents a broader attempt by the administration to undermine the Fed's independence. The stakes are high, as investors, policymakers, and even the judiciary itself begin to take notice.
Make no mistake: Trump will not be silenced or swayed by conventional norms of governance. His vision for America is one-man rule, where he gets his way 100% of the time – and those who dare challenge him must face the consequences. The investigation into Powell serves as a warning sign that this is no longer about policy disagreements but rather about the president's unyielding resolve to crush any opposition.
As we watch this unfolding drama, one thing becomes clear: the fate of American democracy hangs in the balance. Will we stand up for our institutions and the rule of law, or will we succumb to Trump's relentless pressure? The answer, much like Powell himself, remains uncertain – but one thing is certain: it won't be easy.