The Federal Reserve chairman is acting to protect institutional independence, and firing him would trigger a significant financial collapse.

“So so Caddy, he's going to jawbone the Fed, but the Fed the Federal Reserve guy Jerome Pal is pretty tough. He's not going to back down because he's an establishmentarian and he knows that he has to keep the system together. If Trump goes to fire him, he's probably right at that at some point it bec”

Questioning the independence of the Federal Reserve causes tangible damage to international investor confidence in the US system.

“One of the things that I has heard, Anthony, is that from economists and financial people is that the damage that Donald Trump is doing already by signaling these things is quite considerable and just bringing into question the idea of the Federal Reserve's independence.”

The Trump administration's attempt to pressure the Fed chair undermines the institutional independence that is vital to the stability of the economy.

“If he can succeed here in cowing Powell whether or not charges are brought it means future whoever he puts in in the future whoever anyone is in in that position the independence is compromised and that's just catastrophic really for the US economy the world economy and that's what Trump is real gam”

The current Trump administration strategy is to bully and remove officials it dislikes, including those at the Federal Reserve, to undermine their independence.

“What seems very clear to me is that this Trump administration, whoever they don't like in government, they're going to them and bullying them out of their positions and they're trying to now publicly bully Powell out even though they don't seem to have much on him.”