Roger Altman: Trump's Desire to Fire Fed Chair Powell is a Dreadful Idea

The Danger of Firing the Fed Chair

• ⚠️ Roger Altman states that President Trump's desire to fire Fed Chair Powell is among the worst ideas currently circulating.
• 💡 While Trump stated he wouldn't proceed, Altman believes that even attempting to fire Powell would be a dreadful idea that Trump would regret.

Independence of Central Banks

• 📈 Historically, countries with independent central banks have shown starkly better economic performance than those with politicized central banks controlled by heads of state.
• 🏦 Politicizing the central bank, making the chair a direct subordinate of the head of state, leads to negative historical outcomes.
• 📊 Examples of countries with politicized central banks include Turkey and Argentina, contrasting with the performance of independent central banks.

Legal and Practical Obstacles

• ⚖️ Altman believes Fed Chair Powell would not resign upon request, meaning any attempt to remove him would likely be resolved in the courts.
• 📜 The statutory basis for firing Powell would require