"You're fired" - Why Trump's catchphrase is spooking the world economy
The News Agents
Global
4.2 • 4.3K Ratings
🗓️ 22 April 2025
⏱️ 40 minutes
🧾️ Download transcript
Summary
The IMF has just released a dire forecast for every major economy - predicting a sharp slowdown in growth on the back of Trump's tariffs plan. It comes as Trump is found trying to fire his central banker - the Federal Reserve Chairman ,Jerome Powell, whose job is completely independent of government. What happens if he goes? And why hasn’t Trump learnt from history? We speak to former senior advisor to Mark Carney at the Bank of England, Huw Van Steenis.
Later, could the culture wars affect what happens now at the Vatican, as Conservatives and progressives vie for dominance of the Catholic Church?
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Transcript
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| 0:00.0 | The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity. |
| 0:09.1 | This is a global player original podcast. |
| 0:12.0 | He said that the termination of Drum Powell cannot come fast enough. |
| 0:15.5 | He says he won't leave it, even if you ask him to. |
| 0:18.3 | Oh, he'll leave. |
| 0:19.0 | If I ask him to, he'll be out of there. |
| 0:20.6 | But I don't think he's, I don't think he, I don't think he, I don't think he's doing the job. |
| 0:25.9 | He's too late, always too late, a little slow, and I'm not happy with him. |
| 0:32.7 | I let him know it. |
| 0:34.7 | And if I want him out, he'll be out of there real fast, believe me. |
| 0:39.3 | That is Donald Trump, talking about the Federal Reserve Chairman Jerome Powell. |
| 0:45.3 | It won't shock you to know that Donald Trump cannot legally fire Jerome Powell, |
| 0:51.3 | and it won't shock you to hear that he's still trying to. |
| 0:55.3 | But what Donald Trump has managed to achieve in saying this is that the markets have been |
| 1:01.3 | horrified. The S&P, the Dow have plunged, other stock markets have gone down and today the IMF |
| 1:09.4 | has warned that growth is going to slow significantly in the US |
| 1:14.4 | and in other G7 countries, all of Donald Trump's making. Welcome to the newsagents. |
| 1:26.7 | The newsagents. |
| 1:28.5 | It's John. |
| 1:29.3 | It's Emily. |
| 1:30.0 | And let's just bring you the latest from the IMF, not the words that will particularly |
| 1:35.0 | warm your heart, but it does provide the context for what we're going to talk about, which |
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