President Trump has recently suggested that unless Federal Reserve Chairman Jerome Powell cuts interest rates,

the president might revert to his The Prentice days and tell Powell, you're fired.

President Trump fact tracked on firing Powell after the president's comments caused stock markets to fall. However, it is almost certain

that President Trump will not reappoint Powell when Powell's term ends in May. Media reports

indicate the leading candidates to replace Powell include Treasury Secretary Scott Besant, former Federal Reserve Board Governor Kevin Marsh,

and National Economic Council Director Kevin Hassett.

A more interesting question then, who will replace Powell is why would anyone want to,

since the next Fed Chairman will likely face another Fed-caused meltdown?

The national debt is over $37 trillion in rising, yet few in Congress are serious about cutting federal spending.

This puts pressure on the Fed to keep interest rates low to limit the cost of ongoing

debt interest payments. So, the Fed continues monetizing the debt, pumping more money into the economy,

weaking the dollars purchasing power, and eroding the American people's standard of living.

The Federal Reserve's low interest rate policy also distorts the market and and eroding the American people's standard of living.

The Federal Reserve's low interest rate policy also distorts the market,

leading to the bubble, boom, and bus business cycle that has plagued the American economy since the last link

between the dollar and gold was severed in 1971. The Fed's job is also made more difficult

by a reduced demand for Treasury security among investors, causing the Fed to increase its purchases.

This pumps more money into the economy, further eroding the dollar's value.

Concerns about the national debt's effect on monetary policy are a key factor behind the recent increasing gold prices and the interest in cryptocurrencies.

The danger posed by national debt is one reason why foreign countries are increasing their gold holdings and considering challenge the U.S. dollars' world reserve currency status.

Whoever succeeds Jerome Powell as Fed Chairman will face a no-win situation.

He could try to keep interest rates low to ensure the federal

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