{"id":29028,"date":"2025-04-21T13:27:17","date_gmt":"2025-04-21T11:27:17","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=29028"},"modified":"2025-04-21T13:28:15","modified_gmt":"2025-04-21T11:28:15","slug":"make-the-fed-great-again","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/dollar-2\/make-the-fed-great-again","title":{"rendered":"Make the Fed GREAT AGAIN!"},"content":{"rendered":"

Unhappy with Jerome Powell, Chairman of the U.S. Federal Reserve, for not complying with his demands to lower interest rates, President Donald Trump is seeking legal ways to dismiss him. Trump believes it is necessary to ease U.S. monetary policy to offset the economic impact of his tariff policy. His attacks on Powell<\/a> have now reached an unprecedented scale and seem to grow in direct proportion to the criticism aimed at Trump\u2019s tariff measures.<\/p>\n

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A presidential adviser<\/a>, quoted by Reuters, confirmed that Powell\u2019s dismissal is being seriously considered, underlining the growing tensions between the two men. According to the Associated Press<\/a>, quoting a public statement from Trump, this “could not happen soon enough.” The administration is reportedly exploring legal options and procedures to remove Powell, according to economist and adviser Kevin Warsh<\/a>.<\/p>\n

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+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++<\/p>\n

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Let there be no mistake \u2014 this is neither media background noise nor the usual (if classic) political pressure exerted on a central bank. These direct attacks against the world\u2019s most powerful central bank have the potential to shake the very core of the U.S. economic engine.<\/p>\n

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Undermining the Fed is tantamount to undermining the trust and time \u2014 the two vital ingredients of the capital markets. While markets always price in some degree of instability based on the information available to them, questioning this sacred institution \u2014 the symbol of monetary credibility \u2014 will undoubtedly have the effect of a deliberately detonated bomb at the very depths and foundations of global finance.<\/p>\n

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President Trump is crafting a dystopian financial thriller \u2014 a sequence of erratic decisions, public statements with seismic effects on the markets, all spiced with a cocktail of disinformation. Jerome Powell, aside from submitting a resignation he is unlikely to offer, will have no choice but to try to keep both his policy and his central bank afloat. Every one of his actions, or even his inaction, will be met with a media onslaught from critics who will, in advance, blame him for the very likely market panic to come.<\/p>\n

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This affair \u2014 and its consequences \u2014 are extremely serious, as the fire will not remain contained. It will ravage a highly flammable financial system loaded with leveraged derivatives and complex instruments, the implosion of which will sow chaos.<\/p>\n

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Someone must make the U.S. administration understand that undermining their own central bank amounts to deliberate self-sabotage, triggering a chain reaction: mass liquidation of U.S. Treasury bonds which will become unsellable, a stampede toward gold and cryptocurrencies \u2014 seen as the only lifeboats, a catastrophic collapse of the dollar, and skyrocketing inflation caused by the meticulous destruction of the Fed\u2019s credibility. All this will come with a level of market volatility surpassing even the historic peaks of the September 2008 credit crisis.<\/p>\n

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Trump must understand that the Chairman of the Federal Reserve is the sole pilot in the cockpit of American finance<\/strong> and plays a fundamental role in maintaining the delicate balance of the global economy. In a chaotic world, it is the Fed that has been able to provide a semblance of stability, and through past crises, it has preserved the cohesion of a sprawling system. Dismantling such an institution, systematically denouncing its decisions, and publicly vilifying its Chairman will inevitably trigger a generation-defining<\/strong> financial episode \u2014 whose first mechanical consequence will be the disappearance of all liquidity.<\/p>\n

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From Beijing to Frankfurt to London, why would anyone trust an institution of such power that has become Trump\u2019s plaything? Why would a central bank, a pension fund, or an investor hold onto Treasury bonds that have become radioactive, manipulated by incoherent policy and possible conflicts of interest? Why, finally, continue holding U.S. dollars when the central bank that issues them is no longer the global benchmark?<\/p>\n

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It\u2019s a hard truth, but one that must be faced: the U.S. dollar owes its status as the world\u2019s reserve currency to the Federal Reserve \u2014 not to the White House<\/strong>. Undermine the Fed, cast doubt on its seriousness, shake confidence in it, manipulate its actions, and the dollar will become just another currency, while U.S. debt will be downgraded almost to the level of an emerging-market country.<\/p>\n

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But perhaps these incendiary statements from the U.S. executive branch against the Fed go far beyond mere interest rate cuts. Is there a deliberate intent to destroy the most feared and respected American institution? Could it be that the real target is the entire financial system, in a kind of messianic vision<\/em> aimed at wiping out all centers of power not under the direct control of the White House?<\/p>\n","protected":false},"excerpt":{"rendered":"

Unhappy with Jerome Powell, Chairman of the U.S. Federal Reserve, for not complying with his demands to lower interest rates, President Donald Trump is seeking legal ways to dismiss him. Trump believes it is necessary to ease U.S. monetary policy to offset the economic impact of his tariff policy. 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The lubricant of economies\u2014globalization\u2014is on its last breath. While just yesterday, nations collaborated to draft laws and regulations they pledged to uphold, they are now breaking apart past alliances and consensus. 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In truth, the facts support his argument, as industrial jobs now account for only 10% of employment in the U.S., compared\u2026","rel":"","context":"In "Competitiveness"","block_context":{"text":"Competitiveness","link":"https:\/\/michelsanti.fr\/en\/category\/competitiveness"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":28804,"url":"https:\/\/michelsanti.fr\/en\/financial-crisis\/tariffs","url_meta":{"origin":29028,"position":3},"title":"Trump\u2019s Tariffs: Economic Voodoo at Work","author":"Michel Santi","date":"April 7, 2025","format":false,"excerpt":"\"They are to economics what creationism is to biology, and astrology is to astronomy,\" tweeted Larry Summers, former U.S. Secretary of the Treasury. A statement that highlights the sheer absurdity \u2014 even outright foolishness \u2014 of the tariffs imposed by the Trump administration. Why then has Lesotho, one of the\u2026","rel":"","context":"In "financial crisis"","block_context":{"text":"financial crisis","link":"https:\/\/michelsanti.fr\/en\/category\/financial-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/04\/Gnk2Z6rW8AASGdE.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/04\/Gnk2Z6rW8AASGdE.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/04\/Gnk2Z6rW8AASGdE.jpg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/04\/Gnk2Z6rW8AASGdE.jpg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/04\/Gnk2Z6rW8AASGdE.jpg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":29414,"url":"https:\/\/michelsanti.fr\/en\/tariffs\/29414","url_meta":{"origin":29028,"position":4},"title":"Trump Cracks","author":"Michel Santi","date":"May 23, 2025","format":false,"excerpt":"A President: Who dictates his will to a company \u2014 and not just any company \u2014 telling it how to make its products. Who decrees 50% tariffs against the EU, the world\u2019s largest economic bloc. The U.S. Congress must regain control!","rel":"","context":"In "tariffs"","block_context":{"text":"tariffs","link":"https:\/\/michelsanti.fr\/en\/category\/tariffs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Trump-Apple.jpg?fit=1200%2C880&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Trump-Apple.jpg?fit=1200%2C880&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Trump-Apple.jpg?fit=1200%2C880&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Trump-Apple.jpg?fit=1200%2C880&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Trump-Apple.jpg?fit=1200%2C880&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":27222,"url":"https:\/\/michelsanti.fr\/en\/tariffs-2\/trump-and-the-loudmouths","url_meta":{"origin":29028,"position":5},"title":"Trump and the Loudmouths","author":"Michel Santi","date":"December 20, 2024","format":false,"excerpt":"\u00a0 Trump threatens heavy tariff sanctions if the European Union does not buy more oil. \u00a0 Yet, European imports from the U.S. have only been increasing: they have been rising substantially and consistently, year after year. \u00a0 \u00a0 \u00a0 \u00a0 Conclusion: Trump makes loud demands that are entirely realistic, as\u2026","rel":"","context":"In "Europe vulnerability"","block_context":{"text":"Europe vulnerability","link":"https:\/\/michelsanti.fr\/en\/category\/europe-vulnerability"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/12\/trump-eu.jpg?fit=1200%2C793&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/12\/trump-eu.jpg?fit=1200%2C793&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/12\/trump-eu.jpg?fit=1200%2C793&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/12\/trump-eu.jpg?fit=1200%2C793&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/12\/trump-eu.jpg?fit=1200%2C793&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/29028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=29028"}],"version-history":[{"count":5,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/29028\/revisions"}],"predecessor-version":[{"id":29039,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/29028\/revisions\/29039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/29030"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=29028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=29028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=29028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}