The rate hike is a surprising turnaround for Fed Chair Kevin Warsh, who was appointed by U.S. President Donald Trump and took over the top job in May. While under consideration by Trump last year, Warsh often suggested the Fed could reduce its key rate, echoing the president’s call for lower borrowing costs.
Common Trump L. Appoint someone who’s telling you what you want to hear, then watch them turn around and do the exact opposite once they’re secure in their position. Trump can’t fire Warsh now that he’s been appointed Fed Chair, just like he couldn’t fire the preceding Chair, Jerome Powell. The inevitable storm of late-night rage-tweets is going to be delicious.
At this point, I’m nearly positive that Trump wants to tank the economy for some PolyMarket bets and to trigger depression era kind of buyouts. The problem is probably that everyone he brings in to destroy something reads a single report and realizes that pulling the lever will collapse the country, and they’re worried that Trump will send his J6 crew after them to make it seem like he’s just as much of a victim.
Common Trump L. Appoint someone who’s telling you what you want to hear, then watch them turn around and do the exact opposite once they’re secure in their position. Trump can’t fire Warsh now that he’s been appointed Fed Chair, just like he couldn’t fire the preceding Chair, Jerome Powell. The inevitable storm of late-night rage-tweets is going to be delicious.
At this point, I’m nearly positive that Trump wants to tank the economy for some PolyMarket bets and to trigger depression era kind of buyouts. The problem is probably that everyone he brings in to destroy something reads a single report and realizes that pulling the lever will collapse the country, and they’re worried that Trump will send his J6 crew after them to make it seem like he’s just as much of a victim.