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Trump Has Drafted Letter to Fire Fed Chair and Asked Republicans if He Should (www.nytimes.com)

submitted 1 week ago by memfree@lemmy.ml to c/usa@lemmy.ml

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President Trump showed off a draft of a letter firing the chair of Federal Reserve, Jerome H. Powell, during a meeting with roughly a dozen House Republicans on Tuesday night, polling them as to whether he should do it and indicating that he likely would, according to two people briefed on the meeting.

The NYT contains several quotes from the CBS story ,but skips much of the name calling Trump uses against Powell.

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[–] bobs_monkey@lemmy.zip 5 points 1 week ago

I was talking about going back to the gold standard, you're talking about devaluing the USD to insane levels and obliterating the global economy. Eliminating the Fed and moving all monetary policy under the treasury would destroy the remaining faith in the USD, as the US Govt would have direct control, and traditionally, the stability of the USD was respected because of the independence of the Fed.