Trump Just Threatened to Fire His Treasury Secretary? Color Me Shocked.
Okay, so Trump's at it again, huh? Threatening to fire someone – this time it's Treasury Secretary Scott Bessent – if he doesn't strong-arm the Fed into lowering interest rates. Live, on stage, in front of Saudi royalty. I mean, give me a break. Theatrics are kinda his brand, offcourse.
Theatrics and Tantrums: Trump's Economic Policy
“The only thing Scott’s blowing it on is the Fed, because the Fed, the rates are too high, Scott, and if you don’t get it fixed fast, I’m going to fire your ass,” Trump said. Translation: "Scott, my rich buddies are complaining about borrowing costs, so make the numbers go brrr, or you're toast."
It's like watching a toddler try to assemble an IKEA bookshelf. He's got the hammer, he's got the vague instructions, but the whole thing is just gonna end in tears and a pile of particleboard.
And the Fed? Calling Jerome Powell "grossly incompetent" and claiming he's got "mental problems"? Real classy, Don. Real classy.
But here's the kicker: apparently, Scott Bessent himself has been begging Trump not to fire Powell. "Sir, please, don’t fire him. He’s got three months to go.” So, Bessent is playing both sides? Interesting. Maybe he's angling for Powell's job. Who knows with these guys?
The whole thing is just so…transparent. Trump wants lower rates to goose the economy before the next election. It's not about what's best for the country; it's about what's best for Trump.
The Illusion of Control: Can Anyone Tame the Fed?
The article mentions the Treasury-Fed Accord of 1951, which supposedly keeps the Fed independent. But let's be real, how independent can they really be when the President is breathing down their necks and publicly humiliating anyone who disagrees with him? Bessent himself admitted the Fed "should be independent" but also thinks they've "made a lot of mistakes." Which is it, Scott?
And Bessent? He's got an interesting background – Soros Fund Management, his own hedge fund. Wall Street cred, sure, but does that make him qualified to navigate this political circus?
Speaking of circuses, the whole thing went down at the U.S.-Saudi Investment Forum. Hundreds of billions of dollars in deals, Elon Musk and Jensen Huang hanging around... It's like a billionaire's wet dream. Are we supposed to believe this is about anything other than lining pockets?
I mean, what's the endgame here? Trump gets his lower rates, the stock market pops, everyone feels good for a few months, and then...what? Inflation spikes? Another financial crisis? Does anyone in Washington actually think about the long-term consequences of anything anymore?
So, What's the Real Story?
Look, I'm not an economist, but I know BS when I see it. This whole charade is about power, control, and short-term gains. It's about Trump flexing his muscles and reminding everyone who's boss. It's about the illusion of control. And honestly, I'm sick of it.