Trump Threatens Fed Chief Again, Stocks Dive

The moronic and dangerously inept Malignant Fascist has again threatened Fed Chair Jerome Powell, demanding that he lower interest rates immediately, or potentially be fired. The stock market took note:

"Stocks fell again on Monday as President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, raising questions about the central bank’s independence, while traders received little signs of progress on global trade talks. [snip]

In a Truth Social post, Trump claimed that the economy would slow unless Powell — who he referred to as “Mr. Too Late, a major loser' — lowered interest rates immediately. This follows another post last week in which Trump also called for the Fed to lower rates, even hinting at Powell’s “termination” — something White House economic advisor Kevin Hassett said the president’s team was studying.

Stocks fell to their session lows after Trump’s post on Monday. The dollar was also under pressure, hitting a three-year low as the threats ramped up." (our emphasis)

Live updates here. There are increasing worries in the financial sector of the economy that the MF's threats and actions have set in motion a disastrous loss of faith in America as a safe investment:

"Investors are dealing with 'with a fresh source of macro anxiety: Trump’s threats to Fed independence,” wrote Adam Crisafulli of Vital Knowledge. [snip]

'The concurrent slump in stocks, the USD, and Treasuries suggests Trump’s trade war has set in motion an exodus from American financial assets that no amount of negotiating can reverse,' Crisafulli wrote."  (our emphasis)

The raging ignoramus in the Oval Office won't concede his trade policy / tariffs have been a disaster, given his damaged and abnormal ego, and inclination toward revenge. He's surrounded by sycophants and the ignorant who won't counter his inane misjudgments, so hang on for the slide into recession and stagflation.

UPDATE:  The Dow was down 971.82 points today (2.48%) for those of you with a mild interest in your 401(k) / pension fund.  ETTD.

(photo: Richard Drew / AP)