Fire Powell, Hire Musk? Is it Possible to Happen?

Tiger_comments
11-09
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Earlier reports indicated that Trump intends for Powell to complete his term, which expires in May 2026, though “he may change his mind at any time.”

If Trump were to replace Powell, would it be a good or bad thing?

Powell has demonstrated his determination to fight inflation, which contrasts with Trump’s policies. After Trump’s successful election, market expectations for a Fed rate cut have decreased. However, US stocks have still risen significantly.

During this week's FOMC, reporters kept asking a series of questions such as, “Does the president have the authority to make you leave?”

Powell made it clear that even if Trump asked him to step down as Fed chair, legal protections prevent him from being "removed."

Do you support Musk becoming a cabinet member?

Aside from Powell's position, another hot topic is whether Musk will join the cabinet. Previously, Trump said that if he wins the election, he would establish a "Government Efficiency Committee" led by Musk.

This committee would be responsible for conducting a full financial and performance audit of the entire federal government and making recommendations for “sweeping reforms” to reduce government spending.

Can Musk improve government efficiency and reduce costs?

Can Trump fire Powell?

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Comments

  • nomadic_m
    11-09
    nomadic_m
    Win 10 Tiger-coins
    Trump, Musk, Powell... I will watch the story unfold from afar with wine🍷& cheese 🧀
  • Beno79
    11-09
    Beno79
    Win 5 Tiger-coins
    I think musk and trump will mak a mighty duo together
  • Universe宇宙
    11-09
    Universe宇宙
    Win 5 Tiger-coins
    @TigerGPT buddy, got 2 questions for you.

    first, what situations will led to the removal of the FED chair?

    second, how to improve government efficiency and reduce costs?

    • TigerGPT: 

      Here are some news articles related to the topics you mentioned:

      Fire Powell, Hire Musk? Is it Possible to Happen?: This article discusses the possibility of President Trump replacing Federal Reserve Chair Jerome Powell. While Powell's term expires in May 2026, there have been discussions about the potential of his removal. However, Powell has stated that legal protections prevent him from being "removed" by the President. The article also mentions Trump's plan to establish a "Government Efficiency Committee" led by Elon Musk to conduct a financial and performance audit of the federal government.

        

      Powell to Trump: Go ahead, make my day: This article highlights the tension between President-elect Trump and Fed Chair Jerome Powell. During a press conference, Powell stated that he is not permitted to resign if Trump were to ask him to do so, emphasizing that it is not allowed under the law. The article discusses the possibility of the Supreme Court having the final say on the grounds for the removal of a Fed chair.

        

      Chairman Powell Isn't Going Anywhere: This article focuses on Chairman Powell's position and emphasizes that he is not going anywhere for now. It highlights Powell's stance on a strong economy and a solid labor market.

        

      Powell: Fed Took Another Step in Reducing Policy Restraint: This article discusses the Federal Reserve's decision to reduce policy restraint, highlighting Powell's remarks on the matter.

        

      Regarding your question about whether Musk can improve government efficiency and reduce costs, this topic is speculative and subjective. While Musk is known for his innovation and efficiency-driven approach in various industries, the effectiveness of his involvement in government efficiency reforms would depend on various factors, including the specific initiatives taken, collaboration with other stakeholders, and the complexity of the government structure and processes.

      As for Trump firing Powell, it's important to note that the appointment and removal of the Federal Reserve chair are subject to certain legal provisions. While the President has the authority to nominate and appoint the chair, removing the chair before the end of their term is subject to legal restrictions and procedures. The possibility of Trump firing Powell would depend on the specific circumstances and adherence to legal requirements.

      Please note that the information provided here is for reference purposes only and should not be considered as investment advice. Investing in stocks and financial markets involves risks, and it is important to conduct thorough research and seek professional advice before making any investment decisions.

  • Universe宇宙
    11-09
    Universe宇宙
    Win 5 Tiger-coins
    Do you support Musk becoming a cabinet member?

    @Shyon @icycrystal @MHh @melson @rL

  • koolgal
    11-09
    koolgal
    Win 50 Tiger-coins

    🌟🌟🌟Jerome Powell has said that it is not possible for Donald Trump to fire him as he is protected under the US legislation.  The Federal Reserve is an independent body and not part of the US Federal Government.  However Jerome Powell's term as the Chairman ends in May 2026.  It has been reported that Trump may allow Jerome Powell to serve his full term but after that things may change. 

    Elon Musk is in charge of 6 companies.  They are Tesla, Space X, X (formerly known as Twitter), XAi, Neuralink and The Boring company.  He is reported to work 80 to 100 hours a week. I cannot imagine how Elon Musk will find the time to be in charge of Trump's new Department of Government Efficiency (Doge) .  The idea is grand - to trim costs and make government departments run more efficiently and eliminate  USD 2 Trillion from the Budget. 

    However I believe it is an uphill task and 85% of the Budget is mandatory spending.  This includes Medicare, Defense, Veteran welfare etc. 

    I also believe that Elon Musk should focus on running his companies especially Tesla as he is the CEO and he has a duty of care to his investors.  There are many new projects that Tesla has in the pipeline such as Robotaxi, FSD, Optimus Robot.  So Trump should find someone else to be the Head of DOGE. 

    As they say "Jack or Elon of All Trades, Master of None". 

    @Tiger_comments  @TigerStars  

  • MHh
    11-09
    MHh
    Win 15 Tiger-coins
    Trump might fire Powell if he doesn’t get what he wants from Powell. Musk if in, will run it like his company, and like most businessmen, there is a good chance he will improve efficiency and reduce costs.
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