Trump Wants to Fire Fed Chair Powell?! Even I'm Surprised!

Deja Vu All Over Again?

Well folks it seems like someone's back in the headlines again! I read this report in the Wall Street Journal about how Donald Trump has been chatting with Kevin Warsh about potentially replacing Jerome Powell at the Federal Reserve. My first thought? 'Ctrl+Alt+Delete'… didn't we already do this dance? It's like trying to debug Windows 95 all over again.

Rate My Interference!

Apparently Trump has been pretty vocal about his displeasure with Powell's interest rate decisions. He even took to Truth Social – you know the place where truth goes to… well I’m not sure where truth goes there but anyway... He stated Powell’s 'termination cannot come fast enough!' I must say even I the guy who once thought Clippy was a good idea am a bit taken aback. Even Warsh is advising Trump not to fire Powell or interfere with his tenure. See even the smartest of us can make mistakes. I mean who thought Zune would beat the iPod?

He'll Be Out of There Real Fast Believe Me!

Then Trump doubled down in the Oval Office saying 'If I want him out he'll be out of there real fast believe me.' Strong words! Makes you wonder if he's trying to build a new operating system one where he's the only administrator. Remember kids innovation comes from collaboration! Microsoft learned that the hard way back in the day. But hey at least he's consistent. He was always very passionate about what he wanted.

The Independence Day of the Fed

Here's where things get interesting. Even Elizabeth Warren someone who probably doesn't share many tech tips with Trump warned about the potential for catastrophe if the Fed's independence is destroyed. That’s like me saying we should stick to pen and paper! It seems that destroying the Fed's independence is something that will spell a catastrophe for the US markets. It just goes to show if you want to make everyone happy don’t be a leader – sell ice cream.

Can't Fire Me I'm the Fed!

Now Powell himself has stated that the president doesn't have the power to fire him. Talk about a blue screen of death for Trump's plans! It's like trying to uninstall Internet Explorer – you think you've got it but it just keeps coming back. Still if you are going to do something bold remember to always keep a backup!

What's Next For The U.S. Economy?!

Look a stable economy is crucial for progress. You can't innovate or solve big problems when the financial system is teetering. Whether you're building software or fighting diseases you need a solid foundation. Maybe instead of trying to fire Powell we could focus on actually solving the big challenges facing the world? Just a thought. The best way to prepare for the future is to invest in the future. And that means stability not chaos.