Consider, for a moment, given the tariff chaos unleashed on the world, what the market reaction would be.........

[CrusaderFrank]

........if trump were able to orchestrate the firing of Fed Chairman Jerome Powell (legal experts say it can't be done for any reason other than malfeasance) and install a lackey who would do as he or she was told by Don.

Trump suggests he can remove Fed Chair Powell and says he's 'not happy' with him over interest rates

President Donald Trump has attacked Federal Reserve Chair Jerome Powell for not cutting interest rates. And Trump says he could fire Powell if he wanted to.

apnews.com

The markets are freaked out as it is with Don's ability to unilaterally make tariff decisions. Compound that with indirect control over monetary policy, including interest rates, and we're looking at another stock/bond selloff.

It would be still be better than Kamala Harris riding our multi Trillion overspending like Slim Pickens riding the nuke down to Russia

 

[dudmuck]

Doesn't Powell's term end in 2026? With any luck at all, Trump will get someone in someone competent.

 

[berg80]

30-year Treasury yield spikes to 5.07%, 10-year yield hits 4.58% as GOP bill raises deficit concerns​

Treasury yields moved back to levels that have pressured the economy and financial markets in the past as investors feared a new U.S. tax bill could worsen the country’s budget deficit, a risk highlighted in a Moody’s downgrade of the U.S. credit rating to end last week.

The 30-year Treasury bond yield was up about 10 basis points to 5.06%, breaking above the key 5% level for the second time this week and reaching levels not seen since 2023. The 10-year yield was 10 basis points higher at 4.58%, returning to levels that caused turmoil in the markets back in April and played a part in President Donald Trump pausing his stiffest tariffs. The 2-year yield advanced 5 basis points, reaching 4.02%.

https://www.cnbc.com/2025/05/21/us-treasury-yields-investors-monitor-budget-bill-discussions-.html

Yields are spiking across the spectrum as the market considers the impact of trump's tariffs on consumer spending and the impact of trump's budget bill on the debt.

 

[berg80]

The Dow is now down 850 because of the bond yield spike in response to Dotard's budget. This is what happens when irresponsible idiots get elected.

 

[berg80]

The Republican spending bill is sending yields soaring and creating a major market headache​

The U.S. debt-and-deficit situation is bad and facing real prospects of getting worse, triggering a high-profile credit rating downgrade from Moody’s and another selling stampede in stocks and bonds.

Whether the recoil in financial markets continues is largely in the hands of policymakers who seem intent on adding to the U.S. fiscal problems in the name of stimulating growth through President Donald Trump’s “big, beautiful” spending bill.

For now, Wall Street experts are not optimistic about what happens from here.

“Moody’s didn’t tell us anything we didn’t already know, but they did underscore that things aren’t going in the right direction,” said Kathy Jones, chief fixed income strategist at Charles Schwab. ” The big, beautiful bill also, when it comes to debt and deficits, is not going in the right direction.”

https://www.cnbc.com/2025/05/21/republican-spending-bill-driving-up-yields-and-creating-a-major-headache.html

The market got a reprieve from the tariff madness which was probably unwarranted. Here comes the budget bill selloff.

 

[toobfreak]

Tariff chaos? Every country on the freaking globe has enacted tariffs

That's what's so funny about the unhinged left's latest anti-America TDS rant: after decades of most every other country having (often steep) tariffs against us inhibiting export of products made here, suddenly now all hell is going to rain forth if we so much as tamper with a system which has made the USA nothing but consumers of other people's economic activity for ages while doing nothing for our own.