It’s always tricky to parse the semantics of the “resignation” of a high profile public official, because even when the person is fired or forced out, it’s still usually framed as a resignation. But it’s fair to say that when Donald Trump chose Vladimir Putin over his own Secretary of Defense James Mattis, prompting Mattis to resign in protest, Trump might as well have fired Mattis. Now Trump has found a new target.
Even if you’re not invested in the stock market, it’s been plummeting so badly of late, you’ve surely heard about it. It’s down more than three thousand points in three weeks. It just keeps dropping with no end in sight. After Donald Trump spent so much time bragging about the rising stock market these past two years, he can’t handle the fact that it’s collapsing. Worse, he can’t accept the reality that his disastrous trade war, and his destabilizing criminal scandals, are a big part of the reason. So naturally he’s blaming someone else.
Donald Trump is now on the verge of firing Federal Reserve Chairman Jerome Powell, according to Bloomberg. Why? In short, Trump is too ignorant to understand why Powell recently raised interest rates even as the market has been falling. The reality is that Powell is trying to stabilize the economy even as Trump is destroying it, but don’t tell Trump that.
We’ll see if Donald Trump goes through with firing Jerome Powell or not. Remarkably, Trump appointed Powell to the job just ten months ago. This comes even as James Mattis, John Kelly, Ryan Zinke, and possibly Kirstjen Nielsen are preparing to exit stage left, with no one showing any interest in permanently filling any of these roles. Once the entire regime is gone, who will Trump blame then?
Bill Palmer is the publisher of the political news outlet Palmer Report