Thread by @TruthHammer4EVA

Folks are getting this story wrong. 🧵

Claim: Fed Chair is refusing to step down

Missing Detail:
1⃣Per the Banking Act of 1935, a Fed Chair is appointed to serve a four year term and can only be removed "for cause"
2⃣It is not a normal agency position that can be replaced at any time by a President

If Trump wants to remove Chairman Powell early he must:
1⃣ Persuade him to quit, or
2⃣ Remove him "for cause", and publicly state what Powell did wrong.

He will be fought in court, and it would probably go all the way to SCOTUS. SCOTUS will say the true authority is with Congress who wrote the law that said a Fed Chair can only be removed for cause, but the law also fails to specify what counts as valid cause.

It's highly probable that Trump is going to restructure the Fed in a big way, or use Congress to pass legislation imposing new restrictions on the Fed.

Jerome Powell and the media have launched a distraction op now, over an issue Trump probably never even cared about, as a way of trying to take control of the narrative and set up future action Trump already has planned as "retributive".

In other words, they picked an irrelevant fight, just to paint Trump's Fed reform agenda as some kind of petty & ego driven response to being challenged.

That isn't going to save them when Trump is ready to turn his laser eyes of retribution on the broken Federal Reserve.