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Albert Edwards: ‘By Hook Or By Crook, Jerome Powell Will Be Out’ If There’s A Recession
"If this is what President Trump is like now, imagine if I am right and the US leads the global economy into another deep recession and financial crisis like 2008", SocGen's Albert Edwards wrote Thursday.
The reference was to Trump's "stubborn child" tweet, which Edwards calls "unusually gratuitous criticism". You know you've made it as a Fed critic when even Albert characterizes your derisive comments about the central bank as "gratuitous".
To be sure, Albert doesn't jump at the opportunity t
Powell is a lawyer. If Trump fires him, Powell should refuse to leave. Absent being carried away in handcuffs, he should not go. This is not a situation where you can file a lawsuit and win damages for back pay in 2 years. If the law says the President can only fire for cause, let the President prove in court that he has good cause. If the point of the statute is simply to have a court slap the wrists of a former President after 2 or 3 years of litigation, it is meaningless. I’m not a huge Powell fan, but giving the President the right to fire without cause is the same as saying that Fed Chair is just a political position. Maybe I need to create a Kickstarter page so we can buy a couple years of dried foods from those survivalist companies and have it shipped to Powell’s office.
The inbred thinking in this administration indicates that the whole group operates at Trump’s whims and defines “political Position”….
Trump is gonna bring him up on treason charges. lol
Doesn’t that portend a de facto protracted time period – and Orangehole will be gone by then. It’s a looooong line Powell will be queued on…
I’d be willing to endure a recession (which I don’t think Powell is trying to instigate, he’s just, rightly, cautious), if it meant Trump didn’t get re-elected in 2020. Powell’s only fault was when Trump said “jump!” Powell didn’t say, “How high?”
Just this week Powell actually seemed to display his metaphorical male genitalia in that speech about an independent Fed; or, as Orangehole probably heard it, Powell effectively said “how’s ’bout I grab YOU, Pussy?”