Dollar Tumbles After Trump Announces Son Eric To Replace Jerome Powell
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The dollar dropped massively after Donald Trump said he was looking at three or four people to replace “stupid” Fed Chair Jerome Powell. And while everyone was kept in suspense, bookies went wild with their predictions, SBF, Tiffany Fong, and Idris Elba ranked the top choices for the role.
But Trump played a curve ball and to everyone’s surprise but mine, picked nepo baby extraordinaire, Eric Trump, maybe the worst Trump, to head up maybe the most important role in the US’s economy.
Eric Trump is well known for not really being that well known, so it’s a good choice after every other family member that Trump had in his inner circle got burned by the first administration. Other than moving some money around when maybe he shouldn’t have and then got caught, Eric has basically zero financial experience, which makes him perfect for the role.
He also enjoys skiing.
Eric Trump seems a great replacement considering that Powell is “an average-minded person” with a “low IQ for what he does” according to Donald Trump. The insults can be added to a long list of barbs made in expense of the Fed Chair including, “Mr. Too Slow” and “Greasy Hair McGee”… that last one seems uncalled for.
Trump has also gone back and forth on whether he’ll replace the chair, suggesting a nice couch or maybe even an ottoman instead. As for the head of the Federal Reserve, he has continually threatened to replace Powell, but often walked back those statements and occasionally denied seeking his replacement.
Now he’s back on the offensive and as a result trust in the dollar is suffering, The news might mean that rate cuts are more likely. But who knows. Not me, don’t ask me.
For more news on this news, click here: Powell No Longer Invited To Trump’s Birthday BBQ
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