John Kennedy turned on President Trump over this bold move
John Kennedy continues to grow more vocal in his opposition to President Trump.
It’s a development that no one saw coming.
And now John Kennedy turned on President Trump over this bold move.
John Kennedy says President Trump can’t fire Federal Reserve Chairman Jerome Powell
Federal Reserve Chairman Jerome Powell is a well-deserved target of President Trump’s wrath.
Powell issued a rate cut in September of last year in a blatant attempt to spark the economy in the hopes of helping Kamala Harris win the election.
Now that President Trump is in office Powell is causing 1,000 point stock market drops giving speeches attacking Trump’s economic policies and talking down the possibility of interest rate cuts which are increasing jitters among the American people.
President Trump is fed up with Powell’s transparent attempts to manipulate the economy to help Democrats and hurt him.
That’s why President Trump groused about firing Powell.
Senator John Kennedy told Kristen Welker of NBC that Trump doesn’t have the right to fire Powell.
“I don’t think the president, any president, has the right to remove the Federal Reserve chairman,” Kennedy stated.
The fact that the Federal Reserve operates outside the bounds of democratic accountability and in secret are why a growing number of Americans support auditing and – ultimately – ending the Fed.
Kennedy spoke of a world that doesn’t exist where Powell is an honest broker trying to keep the economy on track after Powell enabled the Fed printing press that allowed Biden to pump trillions of so-called “stimulus” into the economy which sparked the inflation crisis.
“My experience with Jay Powell is that he’s got tiger blood,” Kennedy stated. “He’s going to do what he thinks is right, and he’s not going to go down in history as the Federal Reserve chairman that allowed inflation to become wild as a March hare, and he’s going to do what he thinks he’s got to do.”
Trump told reporters the next day that he had no immediate intention of firing Powell but again dinged the Fed Chair about his refusal to cut interest rates now that Republicans were in charge.
“No. None whatsoever. Never did. The press runs away with things,” Trump told reporters. “No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates.”
The stock market surged over 1,000 points on this news.
Trump expanded upon his criticisms of Powell’s political chicanery in a post on Truth Social.
“‘Preemptive Cuts’ in Interest Rates are being called for by many. With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower, and most other “things” trending down, there is virtually No Inflation,” Trump wrote.
The last report showed inflation cooling faster than expected and other countries are cutting rates so Trump argued Powell should get ahead of the curve for once.
“With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW. Europe has already “lowered” seven times. Powell has always been ‘To Late,’ except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?” Trump concluded.
