,
9 tweets,
4 min read
Read on Twitter
NEW COVER: It looks like Trump’s found a way to attack Powell and the Fed outside of his tweets bloom.bg/32nZSQe 
For a full year now, Powell has been on the receiving end of an unprecedented barrage of abuse from Trump bloom.bg/32nZSQe
In tweets, he’s called the Fed “loco,” as well as “the biggest threat” facing the U.S. economy bloom.bg/32nZSQe
Trump took his first shot last July, and things only got worse as the Fed plowed ahead with four rate hikes over the course of a year. That’s when Trump began making noises about ousting Powell bloom.bg/32nZSQe
Advised that he does not have the authority to fire him outright, Trump threatened to strip Powell of his chairmanship, a legally dubious move that could lead to a messy court battle bloom.bg/32nZSQe
But now, Trump has opened a new front in his war on the Fed—and the damage may prove more devastating and long-lasting bloom.bg/32nZSQe
The president’s picks for the Board of governors have become more partisan over the last year. Stephen Moore and Herman Cain both withdrew, but Trump’s two new picks, Judy Shelton and Christopher Waller, are different bloom.bg/32nZSQe
Shelton, a hard-core inflation hawk who in past years has advocated for a return to the gold standard, told Bloomberg News she wouldn’t do anything to threaten the president’s pro-growth agenda bloom.bg/32nZSQe
That sort of pandering has marked Shelton as just the sort of partisan the Fed’s staff, leadership and outside allies will fear and loath. And given Trump’s disdain for Powell, she would, if confirmed, represent a potential chair-in-waiting bloom.bg/32nZSQe
