Trump just took extraordinary action against the Fed. He may not go all the way | Crypto Craft

  • Trump just took extraordinary action against the Fed. He may not go all the way

    From edition.cnn.com

    President Donald Trump late Monday fired a top Federal Reserve official, Governor Lisa Cook, citing allegations of mortgage fraud. But for all his recent attacks on the Fed, Trump is unlikely to take what would be the nuclear option against the central bank — firing Chair Jerome Powell, whom Trump has slammed for not yet cutting interest rates this year. Such a move would likely tank financial markets and deal a serious blow to the Fed’s independence from politics, which has helped it successfully fight periods of high inflation and high unemployment in past decades. The fact Trump has fired Cook instead of ... (full story)

Comment Options
Luxyus
Aug 26, 2025 4:23am
Permalink
Actually despite the neverending attacks to Powell it seems he s taking more care to put insiders as much as he can in the Council in order to have the majority of the votes at every meeting. After all the next Fed chair will be 100% one of his followers and he has to wait just some months and the job will be done.
Apocalyptic scenario
Luxyus
Aug 26, 2025 5:10am
Permalink
Quoting Polimini
{quote} Remember that Powel was put there by him. But i agree, when Powel leaves we will have a bunch of yes man doing whatever Trump mandates.
Yep, but contest was different man. Nowadays trump has more power holding majorities to pass through any executive orders, and owning the fed will bring him the ultimate power. Scaring
YipTim
Aug 26, 2025 4:33am
Permalink
Obviously Trumph group trade is manipulating financial market , especially Gold Future I expect this morning his account almost burst Margin call if Gold price drop to 3750 in a second he got to have press conference to sack Fed cook to save his money being wiped out as soon it touch 3750.
Reply
Polimini
Aug 26, 2025 4:40am
Permalink
Quoting Luxyus
Actually despite the neverending attacks to Powell it seems he s taking more care to put insiders as much as he can in the Council in order to have the majority of the votes at every meeting. After all the next Fed chair will be 100% one of his followers and he has to wait just some months and the job will be done. Apocalyptic scenario
Remember that Powel was put there by him. But i agree, when Powel leaves we will have a bunch of yes man doing whatever Trump mandates.
Reply
LightchaserG
Aug 26, 2025 4:02am
Permalink
Amazing! He's the only one who can commit fraud. crazy year, just crazy
Reply
Trader#66AA
Aug 26, 2025 4:19am
Permalink
Cook did take out mortgages for two properties, both of which were listed as her principal residence. However, it’s not known why she did so or if she did so intentionally.

Under IRS rules, a person can claim only one primary residence

I'm sorry, but nobody is above the law.
Reply
Bernuli
Aug 26, 2025 1:59pm
Permalink
By Monday think will change
Reply
Trader#71CF
Aug 26, 2025 4:41am
Permalink
Stupid, evil, vengeful jerk
Reply
Trader#A306
Aug 26, 2025 4:59am
Permalink
Powell is the last defender of true financial freedom.
Reply
  • Story Stats

  • Related Stories