Truthfully, if you look at this, the markets don't seem to have responded in a way that you think they might do, given that the Fed is supposed to be independent of Trump and Trump is making inroads.

What is your reading of that?

I spoke to every Wall Street investor source I have yesterday. I do think, or the feedback I'm getting is things are a little bit

late, you know, things are a little delayed. It's the end of summer. But people don't necessarily

believe that Trump will follow through with things. It goes back to Taco Trump, right?

I'm Joanna Coles. This is the Daily Beast podcast, and who better to talk to about Donald Trump's

attempts to hijack the Federal Reserve Bank with his attempted firing of Lisa Cook than Stephanie rule?

Nobody talks about finance, about Wall Street, about what's actually going on with monetary policy, with more energy and with more insight than Stephanie.

She is on weeknights, the host of MSNBC's The 11th Hour,

but she comes to us at the Daily Beast podcast regularly with really insightful updates on what

her sources on Wall Street are saying. So, with no further ado, let's get into it.

Stephanie Rule, let's get into it.

Why does Jerome Powell at the Fed so get under Donald Trump's skim?

Because it's all about power.

Since Donald Trump has taken office this second time, his number one goal is to exert power and influence. His biggest

frustration during the first term were all those people in his first administration who said,

no, sir, you're not allowed to do this. You know, this is for the American people. This is the

rule of law. He hated that. So remember during the transition when Howard Lutnik was co-head

of the transition, he said, the number one quality you need to be

part of this administration is loyalty to Donald Trump. And minute by minute, day by day, that's what

Donald Trump has been focused on. And Jay Powell has truly been a standout, stand alone, not summing

as knows at Trump, but saying, this is my job, this is what I'm going to do,

...