Anthony Pompliano Issues a Warning About Trump’s Termination of Fed Chair Powell: Why
Anthony Pompliano, a cryptocurrency entrepreneur, has warned against firing Fed Chair Jerome Powell amid the controversy surrounding President Donald Trump’s threat to do so. Given the underlying motivations, Pompliano cautioned that the action might create a risky precedent.
Even though Pompliano has his own complaints about the Fed, he did not agree with Trump’s strategy. He said that retaliation would not be an appropriate way to address the Fed’s alleged inadequacies. According to the businessman, “Firing the Fed chairman is a very bad precedent to set this way.”
Trump’s threat to remove Fed Chair Powell is criticized by Anthony Pompliano.
Anthony Pompliano, a cryptocurrency entrepreneur, recently voiced his disapproval of US President Donald Trump’s plan to fire Federal Reserve Chairman Jerome Powell in a video. “I do not believe that the President of the United States should come in and unilaterally fire the Fed President,” Pompliano said, casting doubt on Trump’s intentions.
Pompliano went on to say that it’s not a good idea to fire someone from a prominent position because of differences. The cryptocurrency entrepreneur claims that doing so can have negative effects.
A Balanced Perspective: Anthony Pompliano Disagrees With the Fed While Criticizing Trump
The fact that Anthony Pompliano criticized Trump’s remarks in spite of his disagreement with the Fed is remarkable. The businessman asserted that Trump’s suggested moves are not justified by the Fed’s errors. “I still believe that you shouldn’t do something wrong just because someone else is doing it wrong,” he continued.
It’s interesting to note that Pompliano’s remarks follow Donald Trump’s recent call for Powell to lower interest rates in a Truth Twitter post. Trump said, “Powell’s termination cannot come fast enough!” in reference to his “late” actions.
Fed Is Not Truly Independent, Says Pompliano
Significantly, Anthony Pompliano’s discontent with the Federal Reserve arises from the alleged fact that the central bank is “highly politicized.” The entrepreneur agrees with the Fed critics who claim that the bank isn’t fully independent even though it is meant to be.
Trump Is Receiving More Criticism
Anthony Pompliano was among the prominent individuals who voiced concerns in response to Trump’s warning. US Senator Elizabeth Warren is another well-known figure who has voiced strong opposition to Trump’s possible actions.
Senator Warren cautioned that Trump’s action might cause a financial crisis by undermining investor confidence in the US capital markets. “The idea that the big pieces move independently of politics is a big part of our economy, and a big part of the world economy strong,” she cited.
There is just a 19% likelihood that Trump will remove Powell, according to Polymarket, despite the rising debates and controversies.