Category: Federal Reserve Rigged

Lie that the Fed is “rigged” against Trump when he makes outlandish economic demands.

Trump Mocks Federal Reserve Chair Powell Amid Economic Turmoil

President Donald Trump recently shared a meme on social media humorously suggesting he would fire Federal Reserve Chair Jerome Powell. This marks yet another instance of Trump’s disdain for the Fed’s monetary policy, specifically their reluctance to significantly lower interest rates as he demands. For months, Trump has hinted at wanting to remove Powell, blaming him for slow economic growth.

Following a recent Fed meeting where rates were cut for the first time this year, Powell indicated potential further cuts in the coming months. However, concerns about rising inflation and employment risks have made the Fed cautious about rapid reductions. Trump has openly criticized Powell as “incompetent,” arguing that the Fed’s missed opportunities hinder economic progress.

Trump’s discontent also extended to another Fed official, Lisa Cook, from whom he attempted to demand resignation due to unfounded allegations of mortgage fraud. This move exemplifies how Trump seeks to exert influence over the Fed by attempting to fill key positions with his loyalists, such as Stephen Miran, in an appropriation of power that undermines the framework of independent governance.

In a recent speech, Powell emphasized the Fed’s independence from political influence, asserting that decisions are guided solely by economic principles. This contrasts sharply with Trump’s transactional approach, which seeks to align monetary policy with his political needs and pressures.

Trump’s meme exemplifies a troubling pattern of behavior that trivializes the serious nature of fiscal policy and threatens the autonomy of one of the nation’s most critical financial institutions. In a time of economic uncertainty and rising authoritarianism, such conduct is indicative of a broader strategy to dismantle established norms for personal and political gain.

Trump Threatens to Fire Fed Governor Lisa Cook Over Fraud Claims

President Donald Trump has made a startling announcement, stating that he will dismiss Federal Reserve Governor Lisa Cook if she does not resign amid serious fraud allegations. Cook, appointed by former President Joe Biden, is under scrutiny due to claims from Bill Pulte, the director of the Federal Housing Finance Agency, suggesting that she engaged in mortgage fraud. These accusations have escalated to the point where Pulte has requested a criminal investigation, significantly jeopardizing Cook’s position within the Federal Reserve.

During a media interaction, Trump expressed severe disapproval of Cook’s actions, remarking, “What she did was bad.” He insists that if Cook chooses to remain in her role, he will take decisive action to terminate her. This threat is not merely a personal attack; it represents a strategic move by Trump to reshape the Federal Reserve’s governing board, which could have long-lasting implications for monetary policy.

If Trump succeeds in removing Cook “for cause,” he would have the opportunity to appoint a replacement who aligns more closely with his economic perspective. This could serve to consolidate Trump’s influence over the central bank, especially as several seats are currently vacant, including those occupied by appointees who have shown dissent on monetary policy decisions.

The allegations against Cook, particularly claims of dual-residence mortgage fraud, are being taken seriously, with the Department of Justice now investigating the matter. Pulte, who has openly criticized Fed Chairman Jerome Powell, has aggressively engaged on social media to bolster his allegations against Cook, which further complicates her situation. Meanwhile, Cook has responded defiantly, stating that she will not be intimidated into resigning and is committed to addressing any legitimate inquiries regarding her financial history.

This incident unfolds against a backdrop of rising economic concerns, as Fed Chairman Powell has begun hinting at potential interest rate cuts due to waning growth and persistent inflation risks exacerbated by Trump’s tariffs. The potential ousting of Cook, coupled with ongoing criticism of the Federal Reserve, reflects a broader effort by Trump to exert control over U.S. monetary policy, raising alarms about the integrity and independence of the central bank.

(h/t: https://www.cnbc.com/2025/08/22/trump-fire-fed-lisa-cook-powell.html)

Trump Fires Labor Chief After Failing Job Growth Report

President Donald Trump has dismissed the head of the Bureau of Labor Statistics, Erika McEntarfer, following the release of a government report indicating a considerable slowdown in job growth over the past three months. On Truth Social, Trump accused McEntarfer of producing misleading job reports as a Biden appointee and demanded a replacement who would deliver accurate data. He further alleged that the recent jobs numbers were “RIGGED” to damage his reputation and that of the Republican Party, despite failing to provide any evidence for his claims.

The Bureau of Labor Statistics (BLS) reported a mere addition of 73,000 jobs in July, far below expectations, and revised previous months’ numbers downward by more than 200,000 jobs. This alarming data prompted Trump’s decision to terminate McEntarfer, sending shockwaves through Washington as it reflects a broader trend of his administration’s increasing hostility towards independent governmental agencies and their expertise.

Critics, including nonpartisan experts, condemned Trump’s actions, asserting that the termination undermines the credibility of government institutions and threatens the integrity of economic data collection. Max Stier, CEO of the Partnership for Public Service, remarked that such behavior leads governments into precarious territory where truth has little value.

The BLS has been recognized historically for its independence in producing labor market data, essential for informed decision-making by businesses, consumers, and policymakers. Labor Secretary Lori Chavez-DeRemer emphasized that jobs numbers should remain non-partisan and free from political manipulation—an assertion that consumer and business confidence relies on for economic stability.

As Trump seeks to reshape the BLS to suit his narrative, former Labor Department officials and experts have raised alarm about the potential long-term impacts on trust in economic data. They emphasize that accurate, reliable data collection is crucial for the health of the U.S. economy, indicating that the politicization of such data is akin to practices seen in authoritarian regimes, ultimately jeopardizing democratic integrity.

(h/t: https://www.nbcnews.com/business/economy/trump-orders-firing-bls-commissioner-weak-jobs-report-rcna222531)

Trump Demands Powell’s Resignation Amid Accusations of Misleading Congress

Former President Donald Trump has escalated his ongoing feud with Federal Reserve Chair Jerome Powell, calling for Powell to resign immediately. This call comes on the heels of accusations from Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), who alleges Powell provided misleading testimony to Congress regarding renovations at the Federal Reserve’s headquarters.

In a post on Truth Social, Trump, referring to Powell by the nickname “Too Late,” echoed the sentiments of Pulte, who claimed Powell’s statements during a Senate Banking Committee hearing were deceptive. Pulte specifically criticized Powell for his comments about a $2.5 billion renovation plan, suggesting it was indicative of serious misconduct warranting Powell’s dismissal.

This recent turmoil highlights Trump’s persistent frustration with Powell’s leadership. Since he appointed Powell in 2017, Trump has repeatedly criticized the Fed’s monetary policy decisions, particularly its reluctance to implement aggressive interest rate cuts, which he believes would stimulate the economy.

Trump’s demands for Powell’s resignation reflect broader tensions regarding the independence of the Federal Reserve in managing economic policies free from political influence. Critics argue that Trump’s insistence on controlling the Fed’s actions represents a significant threat to its autonomy, an essential feature for maintaining economic stability.

As Trump’s public animosity towards Powell continues, the implications for U.S. monetary policy and market stability grow increasingly worrisome. Lawmakers, including Representative Jim Jordan of Ohio, have indicated they may pursue an investigation into Powell, further entrenching the political turmoil surrounding this critical economic institution.

Trump Installed Fed Officials Parrot His Wishes

Recent statements from Federal Reserve officials reveal troubling alignments with President Donald Trump’s agenda, particularly in advocating for lower interest rates, which contradicts previously cautious stances. Fed Vice Chair for Supervision Michelle Bowman has openly suggested that adjustments to the policy rate may be necessary soon, downplaying the risks associated with Trump’s tariffs and emphasizing the need to maintain a healthy labor market.

This shift signifies a worrying trend where appointees of Trump—who demands unwavering loyalty from his officials—begin to echo his economic policies. Earlier, Fed Governor Christopher Waller also indicated support for rate decreases, focusing on the idea that inflationary impacts from tariffs might be minor. The suggestions from Bowman and Waller clash with the traditional reluctance of the Federal Reserve to alter rates based on political pressure rather than economic fundamentals.

Despite some Fed officials still favoring a cautious approach, sentiments are changing. Chicago Fed President Austan Goolsbee acknowledged the potential for rate cuts if inflation remains stable in light of recent tariff increases. This indicates an unsettling readiness among certain Fed members to prioritize political concerns over the broader economic picture, which is concerning in light of the escalating Israel-Iran conflict and its possible repercussions on global energy prices.

Trump has repeatedly criticized Fed Chair Jerome Powell for failing to comply with his calls for lower rates, labeling him with derogatory terms. This aggressive rhetoric reflects Trump’s broader strategy to undermine independent institutions, revealing an alarming trend where critical economic decisions may be swayed by political allegiance rather than objective analysis.

As political pressures mount and Fed officials appear to be bending to Trump’s demands, the potential for compromised economic integrity grows. Allowing political influence to dictate monetary policy threatens to destabilize not only financial markets but also the broader economy, ultimately serving the interests of wealthy elites while neglecting the working class.

(h/t: https://edition.cnn.com/2025/06/23/economy/fed-july-rate-cut-trump)

Trump’s Pressure on Fed Chair Powell Exposes Tensions Over Interest Rates and Economic Independence

President Donald Trump has once again targeted Federal Reserve Chair Jerome Powell, demanding that interest rates be lowered. In a bold social media post, Trump referred to Powell as a “numbskull,” yet paradoxically acknowledged that his own criticisms complicate Powell’s ability to comply with these demands. Trump insisted he has tried different approaches, including being nice and neutral, but claimed they have not been effective.

On the same day, Federal Reserve Governor Christopher Waller addressed the necessity for interest rate cuts as early as July, indicating a potential internal rift within the Fed. This comes amid ongoing economic uncertainty influenced by Trump’s heavy tariffs, which have yet to significantly impact inflation as predicted. Waller, however, advised a cautious approach, suggesting a gradual reduction rather than the aggressive cuts Trump is demanding.

Despite the ongoing public tensions, the Federal Reserve operates independent of political pressures and bases its decisions on economic indicators rather than government finances. Powell has articulated this stance in recent briefings, emphasizing that the Fed’s mandate is to maximize employment and maintain stable prices. As of now, inflation has remained relatively stable, prompting the Fed’s measured approach to rate cuts despite Trump’s incessant demands.

Trump’s criticism towards Powell reflects his historical disdain for the Fed chair, stemming from Powell’s reluctance to bend to Trump’s aggressive monetary policy requests. As Trump contemplates Powell’s potential successor ahead of Powell’s term ending, the prospect of appointing a “shadow” Fed chair rises, which could significantly alter the autonomy of the Fed.

Waller’s comments indicate a growing concern for the labor market, which has shown signs of strain, including rising youth unemployment. His view pushes for preemptive rate cuts to stave off potential deterioration, contrasting sharply with the president’s erratic demands. This discord highlights the ongoing conflict between Trump’s economic expectations and the Fed’s commitment to independent and data-driven monetary policy.

(h/t: https://edition.cnn.com/2025/06/20/economy/fed-governor-rate-cut-july)

Trump’s Destructive Attack on Fed Chair Powell Highlights His Economic Mismanagement

In a recent outburst, President Donald Trump launched a vitriolic attack against Jerome Powell, the chairman of the Federal Reserve, branding him “one of the dumbest, and most destructive, people in Government.” Trump’s anger stemmed from Powell’s refusal to comply with his demands for significant interest rate cuts, which Trump believes would alleviate financial pressure on the economy.

Trump’s ire intensified following the Federal Reserve’s decision to maintain current interest rates, as officials expressed greater concern about inflation than economic growth. In a Truth Social post, he claimed this inaction was costing the nation “hundreds of billions of dollars,” while also declaring that “Europe has had 10 cuts, we have had none,” demonstrating his frustration over U.S. monetary policy under Powell’s leadership.

During a press event, Trump admitted to utilizing various tactics—both “nasty” and “nice”—to influence Powell, yet he expressed disbelief at the lack of results. He even suggested that Powell “hates” him, implying a personal vendetta against his administration. This demonstrates how Trump’s focus on personal grievances often overshadows genuine economic discourse.

Despite Trump’s reckless economic demands, Powell and the Federal Reserve signaled they would hold off on any cuts until they could assess the true impact of Trump’s tariffs, which have significantly affected economic stability. This dynamic raises critical questions about the appropriateness of Trump’s aggressive tactics that aim to coerce federal economic policy.

Trump’s ongoing public attacks on Powell reveal a troubling trend in which he seeks to blame others for the consequences of his own misguided policies. This behavior is emblematic of a leader who prioritizes personal ambition over the welfare of the American people, reflecting the broader authoritarian tendencies that characterize his administration.

(h/t: https://www.rawstory.com/trump-american-disgrace-dumbest-hire/)

Trump Launches Attacks on Fed Chair Powell Over Economic Failures and Demands His Removal

Former President Donald Trump has escalated his targeted criticism against Jerome Powell, the Chair of the Federal Reserve, demanding his immediate “termination” for not reducing interest rates swiftly enough in response to Trump’s economic policies. This outburst came just after Powell warned about the severe implications of Trump’s extensive tariffs on the economy during a recent event.

Trump’s remarks, posted on his social media platform, portrayed Powell as incompetent, stating “Jerome Powell of the Fed, who is always TOO LATE AND WRONG,” and characterized a recent report by Powell as a “complete ‘mess!’” Such statements exemplify Trump’s recurrent pattern of deflecting blame onto the Federal Reserve for economic turmoil that is largely the result of his administration’s own misguided policies.

During Powell’s recent address, he reiterated that the sweeping tariffs imposed by the Trump administration are creating unprecedented challenges, contributing to inflation and potential recession. As evidence mounts, even billionaires are starting to recognize the economic backlash, with some predicting a recession may already be underway.

The tension between Trump and Powell dates back to 2018, when Trump himself appointed Powell, only to later refer to him as “the enemy” due to various Fed decisions that Trump disagreed with. Despite being recommended by Trump, Powell’s tenure has now become a focal point for Trump’s frustrations as he struggles to take accountability for his administration’s economic failures.

Speculation around Trump’s ability to unseat Powell raises concerns about the integrity and independence of the Federal Reserve, a vital institution meant to operate without political interference. Trump’s threats seem to undermine that independence, mirroring tendencies seen in authoritarian regimes, which is deeply troubling for the future of American democracy.

(h/t: https://www.cnn.com/2025/04/17/economy/trump-fed-chair-powell-termination/index.html)

Trump calls Fed Chairman Jay Powell ‘enemy,’ compares him to Chinese President Xi

President Donald Trump significantly ramped up his criticism of Fed Board Chairman Jay Powell on Friday, describing his longtime target on economic issues as an “enemy” and likening him to Chinese President Xi Jinping.

“My only question is, who is our bigger enemy, Jay Powel or Chairman Xi?,” Trump wrote, misspelling Powell’s name. 

Trump has repeatedly blasted the Fed, even before his election. But his long-standing dissatisfaction with the Fed, which he accuses of bungling the U.S. economy, has increased amid concerns over a global economic slowdown. Trump nominated Powell as chairman in 2017.

The president’s tweet came as he prepares to head to France on Friday for the G-7 meeting of world leaders, where trade and the economy will be atop the agenda. 

The Fed, an independent board whose members are appointed by the president, raises interest rates to cool down a hot economy and cuts them to stimulate a sluggish one. The rates affect how much it costs to use a credit card, sign a car loan or buy a home.

Trump this week has upped the ante in his year-long campaign to browbeat the Federal Reserve into slashing rates, calling for the central bank to lower its key short-term rate by “at least” a full percentage point “over a fairly short period of time.”

For good measure, he has added that the move should be accompanied by “perhaps some quantitative easing as well,” referring to the Fed’s massive bond purchases during and after the Great Recession to lower long-term rates. 

Trump again voiced frustration with the Fed on Wednesday, tweeting that Germany “is actually being paid to borrow money, while the U.S., a far stronger and more important credit, is paying interest.”

[USA Today]

Trump attacks US Fed, demands rate cut

President Donald Trump attacked the independent US Federal Reserve on Friday, demanding the central bank reverse course and cut interest rates — something it is widely expected to do this month.

In another Twitter outburst, Trump called on the Fed to “Correct!” its overreach.

“We are in a World competition, & winning big,… but it is no thanks to the Federal Reserve,” he said.

“Had they not acted so fast and ‘so much,’ we would be doing even better than we are doing right now. This is our chance to build unparalleled wealth and success for the U.S., GROWTH… Don’t blow it!”

The US central bank raised the benchmark borrowing rate four times last year but seems almost certain to pull back with the first cut in a decade at its policy meeting July 30-31.

Recent comments from Fed officials seemed to confirm the signal that policymakers are prepared to act to sustain US growth in the face of a slowing global economy and persistent trade tensions with China.

“You don’t need to wait until things get so bad to have a dramatic series of rate cuts,” Fed Vice Chairman Richard Clarida told Fox Business Network on Thursday.

That comment echoed a statement earlier Thursday from John Williams, the influential vice chairman of the Fed’s policy committee, who talked about the need to vaccinate when rates are very low.

[Raw Story]

Reality

The independence of a Federal Reserve is what gives its authority and a stability that is relied upon by companies and countries around the world.

Donald Trump is doing everything he can to undermine the Fed’s independence for short-term political wins.

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