Hello everybody and thank you for tuning in to the weekly report.

Make money free again.

Two days after Donald Trump became the first American since Grover Cleveland

to win non-consecutive presidential elections,

the Federal Reserve announced a quarter percent cut in interest rates.

Following this announcement, the Fed

Chairman Jerome Powell held a press conference where he said that he would not comply with any

presidential request that he stepped down before his term ends in May of 2026. Pau claimed that the president lacks the legal authority

to fire the Fed chairman.

So, if President Trump tells Chairman Powell,

you're fired, Powell could bring suit

asking a court to review Trump's action.

President Trump and Chairman Powell are at odds over President Trump's desire to

require the Federal Reserve to consult with the president before changing interest rates

or taking other significant actions. Powell is likely to do all he can to convince Congress to reject any legislation giving the

president any type of official role in setting monetary policy.

After all, Chairman Powell is so protective of Fed autonomy that he opposes auditing the

Fed on the grounds that it would threaten the Fed's

independence, even though there is nothing in the audit the Fed legislation giving the President

or Congress any new authority over the Fed's conduct of monetary policy.

Requiring the Fed to consult with the President regarding

a monetary policy would likely increase price inflation and dollar devaluation. Politicians

...