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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Trump is actually scolding Powell, PUAing the Fed - "forcing the leader to lose virtue, leading to the abandonment of allies."
The Fed's interest rate follows a typical "majority rules" voting mechanism, where the FOMC voting members total 12. What Trump wants is for the voting members to rebel; firing Powell has no practical significance. It's better to put him on the hot seat 🔥 - shifting the responsibility of not lowering interest rates to him alone, leaving a buffer zone for the other voting members.
The current situation is that the ticket committee has begun to turn against: Waller and Powell oppose, Kugler abstained (resigned), and although no majority has formed, it almost creates history.
The highest number of dissenting votes in the FOMC occurred in 2011 with 3 votes, and the 2 votes in July indicate that the Fed is at a turning point for interest rate cuts.