Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about Trump, Powell, appointments, and firings.

Trump has been once again toying with firing Federal Reserve Chair Jerome Powell. He's tossing various reasons,

but at the core of the dispute is the fact that Powell

won't sign off on one of Trump's economic theories. Trump is under the belief that if Powell

drastically cuts interest rates, it will spur massive economic growth without consequence.

Trump's economic plans are not grounded in any big

picture theory. Powell is concerned about a massive spike in inflation due to the availability of

cheap money if interest rates are slashed. Who's right? Well, in one corner we have a world-renowned economist who handled the worst

inflationary crisis in decades without triggering a recession. And in the other corner is the

dude who doesn't seem to understand that additional costs in the supply chain raise retail

prices,

and doesn't seem to understand that drill baby drill doesn't lower gasoline prices,

or who thinks pump price for gas right now is $1.99.

With qualifications like that, it's very hard to tell who would have a better grasp on the

nationwide economic picture. Since Powell won't cater to his bizarre economic plans,

Trump has repeatedly brought up firing him, which of course is something he has to walk back

each time because the markets panic when he talks

about it. Why does the market panic? Partly because they know that Trump's plan is the economic

equivalent of doing your own research via Facebook memes, and partly because the Fed has to be

independent to actually function.

If the executive branch starts meddling in the Fed, you end up with an economy nobody wants to invest in, because the whims of the President are controlling the market.

Or, as J.P. Morgan Chase CEO, Jamie Diamond put it, quote,

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