Trump’s Fed Playbook: Find Dirt, Make Noise

Nobody is more critical of the Federal Reserve than me. I’ve long argued the Fed has become way too comfortable stuffing crack up the ass of the economy while pretending to be the nation’s high priests of monetary wisdom.

With a seemingly uncanny ability to not be able to forecast inflation (“it’s a mystery”) and/or the neutral rate of interest (asked repeatedly over the last few years, Powell has never given a specific answer) while they implement policy that widens the inequality gap they claim to be fighting, the whole institution just looks like a sad sideshow run by the covert CIA agents dressed like clowns the 1987 classic Real Men.

But even I can see what’s happening now. President Donald Trump today urged Federal Reserve Governor Lisa Cook to resign after Federal Housing Finance Agency chief Bill Pulte called for a Justice Department probe into alleged mortgage fraud.

Pulte accused Cook of mortgage fraud, alleging she falsely claimed two different homes as her “primary residence” within weeks in 2021, then rented one out. In short, misrepresenting occupancy status could mean cheaper loans, easier approval, and higher leverage for property purchases.

Illegal, if true? Hell yes. Should she be held accountable? Of course.

But I think Trump is officially bullhorning this mortgage-fraud probe and tying it to Chair Jay Powell for another reason. I think it could be the setup for something bigger. Specifically, if you ask me, it looks like Trump could be laying the groundwork to fire Powell “for cause.”

Trump’s animosity toward Powell isn’t exactly breaking news. During his first term, Trump repeatedly attacked Powell for not cutting interest rates fast enough, at one point even exploring whether he could demote Powell from Chair to a mere governor. Legal scholars reminded him that the Fed Chair can only be removed “for cause” — not simply for making the president mad. But that didn’t stop Trump from calling Powell an “enemy” of economic...(READ THIS ARTICLE, 100% FREE, HERE).

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