President Donald Trump’s pre-dawn post shook investors’ confidence on Thursday, as he railed against the Chairman of the Federal Reserve, and called for his “termination.” Hours later, the White House insisted the President was not suggesting he would be firing Jerome Powell, whom he installed during his first term, but the Treasury Secretary Scott Bessent reportedly is urging caution.

Pointing to news about the European Central Bank, Trump at 6:12 AM exploded:

“The ECB is expected to cut interest rates for the 7th time, and yet, ‘Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete ‘mess!'” Trump exclaimed.

“Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS,” he insisted, although some consumers may disagree. “Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now.”

“Powell’s termination cannot come fast enough!” Trump concluded.

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The White House quickly jumped in.

“A White House official tells me today this post should not be seen as a threat to fire Powell,” reported CNBC’s Megan Cassella. “It’s more of an airing, or re-airing, of grievances and frustrations with the central bank chair. And the President is looking forward to the scheduled end of Powell’s term.”

Reuters reported that Christopher Hodge, Chief US Economist for Natixis, said: “So previously I thought the odds were very much against Trump trying to remove Powell, but my confidence has faded. Trump seems more comfortable than expected with a slowing economy and equity volatility and the tariff policies are much more onerous than anticipated, even if they have been walked back a bit. The bottom line is the parameters of potential policy outcomes has widened and while I still think Powell will be retained until his term ends, I am less certain that I was previously.”

Journalist and author Charles Fishman called Trump’s post, “a frontal attack on Jay Powell, chairman of the Federal Reserve, whose independence is enshrined in law—and who is one of the few forces holding the US economy together in the face of White House tariff chaos.”

“Trump can’t fire Powell. But is shouting like he might try,” Fishman writes.

Trump may try, but some say he may need help from the U.S. Supreme Court.

Meanwhile, barely two weeks ago, reports stated Bessent was thinking of quitting.

“Treasury Secretary Scott Bessent may be planning to cut and run after Donald Trump’s disastrous ‘reciprocal tariff’ announcement earlier this week,” The New Republic reported. “During an appearance on MSNBC’s Morning Joe Friday, contributor Stephanie Ruhle reported that the key Cabinet member is already looking for an escape hatch.”

“My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he’s not even close to Scott Bessent or listening to him,” Ruhle said, TNR reported. “Some have said to me, he’s looking for an exit door to try to get himself to the Fed, because in the last few days he’s really hurting his own credibility and history in the markets.”

Last week, things apparently got more heated.

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“Wall Street prizes stability, which is why Trump’s shambolic tariff rollout has wiped out trillions of dollars of market value,” Vanity Fair reported last week. “Executives say the on-again, off-again tariffs are evidence of a civil war engulfing Trump’s economic policy team. According to sources close to the White House, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick have been at odds over a tariff plan, with Bessent urging discipline and Lutnick encouraging Trump to go big. ‘The real war is between Howard and Scott,’ one of the sources said.”

And now, Bessent reportedly is  urging caution on firing Powell.

According to a Politico report on Thursday, Bessent “has repeatedly cautioned White House officials that any attempt to fire Federal Reserve Chair Jerome Powell would risk destabilizing financial markets, according to two people close to the White House granted anonymity to share details of private discussions.”

Adding some insight, Politico notes that “Bessent’s private message reinforces what President Donald Trump already knows but comes as the president’s anger with the Fed chair is growing because Powell hasn’t shown signs that he will cut interest rates soon. It also comes against the backdrop of widespread market turmoil over the administration’s far-reaching trade war.”

Not only has Powell not cut interest rates — which he historically has been very caution on doing — but CNN Business reported Thursday afternoon that mortgage rates just saw “the largest one-week jump” min over a year, and are have now climbed to the “highest level in two months as Trump’s tariffs continue to rock markets.”

Responding to Politico’s report, hedge fund founder and chief investment officer Spencer Hakimian writes, “Bessent hating his new job of being a full time babysitter. Just cleaning up Trump, Lutnick, Navarro, etc. diaper all day long.”

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Image via Reuters

A prominent Republican U.S. Senator delivered candid and heartfelt responses to leaders of nonprofit groups in her state expressing concern over the massive and sudden cuts to federal agencies, programs, and the federal workforce—along with President Donald Trump’s tariffs, executive orders, and legal battles.

“We are all afraid,” said Senator Lisa Murkowski (R-AK), apparently referring to both her colleagues in Congress and her constituents, before pausing in thought (video below). The Anchorage Daily News first reported her remarks.

“It’s quite a statement. But we are in a time and a place where I certainly have not been here before. And I’ll tell ya, I’m oftentimes very anxious myself about using my voice, because retaliation is real. And that’s not right. But that’s what you’ve asked me to do. And so, I’m going to use my voice to the best of my ability.”

Murkowski, a moderate Republican who has held her seat for nearly a quarter of a century, also said that she “is just trying to listen as carefully as I can to what is happening and how it is happening and the impacts it is having on the ground.”

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She admitted that “we don’t have all the answers, but we’re trying to unlock at different opportunities and in different ways as much as we can. And it is as hard as anything that I have engaged in in the 20 plus years I’ve been in the Senate.”

Explaining that she is trying “to figure out how I can do my best to help the many who are so anxious and are so afraid,” Murkowski, an Alaska native, shared stories of encounters with constituents and others.

“I’ve been an airports, I’ve been in meetings, I’ve been in hallways, and in my own office, in Washington, D.C., or where people have shared shared what has happened within their world, where they end up in tears, in tears because they thought that they were in a profession they’d given so much to, and thought that they were doing well and literally no notice whatsoever are terminated and told that their work performance was not not satisfactory,” she noted. “Which was not true, and [they] didn’t know what was going to happen.”

The Anchorage Daily News also described Murkowski as being “exceptionally candid” when “criticizing aspects of the Trump administration’s approach to implementing policy measures and service cuts, some of which she described as ‘unlawful.'”

Murkowski also shared that she has heard “fear” from “people who have said, ‘I’m afraid to, I’m afraid to talk to my coworkers about the status of where we are, because will I be viewed as questioning my my supervisors or my commitment to the agency here.’ These are unscripted moments where I am not soliciting them, and people are not planning on sharing them with me, almost serendipitous in an airport. And so these are real emotions, these are real people, these are real fears, and they need to be heard.”

Republican former U.S. Rep. Barbara Comstock, responding to Murkowski’s remarks, wrote: “This is real. I and so many members – present and former – have heard these conversations privately, so it is refreshing to hear it publicly.”

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Attorney Alex Morey also weighed in, calling it a “stunning admission by a sitting U.S. senator. Senators speak for their constituents, with an oath to defend against ‘all enemies, foreign and domestic.’ Any threat to her ability to do her job demands transparency, bravery, and action — not self-interested self-censorship.”

Columbia University professor of history Simon Schama called it “extraordinary” that a Republican Senator was admitting to being “afraid of her President and government.”

The Senator also acknowledged that the GOP-controlled House and Senate are not fulfilling their oversight responsibilities.

“It’s called the checks and balances. And right, now we are not balancing as the Congress,” she said.

Just last week in a speech on the Senate floor, Murkowski told her colleagues, “I think it’s time for Congress to reassert itself. We owe that to those that we represent, as well as to this institution, for the long-term good of the nation.”

Watch the video below or at this link.

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In the realm of foreign policy, Vice President JD Vance has drawn sharp criticism, with critics branding him as “extremist,” the “Malicious American,” and the “Brutal American“—labels sparked by what they describe as his “naked hostility,” his “morally wrong” and “strategically disastrous” posturing, and a demand to interchange “truth for trade.” If alienating allies is the objective, critics say, he’s well on his way to achieving it.

During the first Trump administration, the President repeatedly came under fire for promoting a brand of foreign relations that was seen as entirely transactional. Turning a blind eye to decades of presidents promoting democracy and human rights as critical components of their foreign policy, Trump forged friendships with authoritarian dictators, invited terrorists to Camp David, and delivered “extensive damage” to “the United States’ international interests and global security.”

In this new, second Trump administration, the President appears to have gone all in on that transactional approach. In what is seen as an effort to upend the world order, Trump is on the offensive, attacking friend and foe alike, distancing America from the rest of the world on the premise that the rest of the world needs America more than America needs the rest of the world.

But Vice President JD Vance appears to have taken Trump’s foreign policy to a far different place: an attempt to create a political and cultural reshaping of foreign nations into the far-right realm. Where Trump wanted trade and military deals, Vance seeks to promote the far right and encourage attacks on minorities.

His efforts, to some, were first noticed during the infamous Oval Office meeting with the President of Ukraine. When Vance took the lead in publicly berating Volodymyr Zelenskyy on live television, many saw it as the moment the United States pivoted—from supporting Ukraine to effectively siding with Russia.

The Vice President is now fully engaged in the role of President Trump’s attack dog.

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But the costs are high.

Vance’s assault on a world leader seen as a hero to Western democracies effectively killed what was billed as a wildly lucrative rare earth minerals deal with Ukraine, and with it, a peace deal between Ukraine and Russia that President Trump campaigned on—stating that he could bring peace in just one day.

The Greenland imbroglio was another embarrassing event—not only for Vance, but for the Second Lady, and for America. What was supposed to be a week-long charm offensive turned into a few offensive hours.

Now that Trump has imposed his worldwide tariffs, Vance appears to be the one attempting to negotiate country by country.

It is not going well.

Last week, Vance told Fox News that America is borrowing money from “Chinese peasants” to “buy the things those Chinese peasants manufacture.”

“We borrow money from Chinese peasants to buy the things that Chinese peasants manufacture.” – JD Vance

Yeah. I’m sure the Politburo is going to take that comment very well.

pic.twitter.com/D0NuLIb0df

— Spencer Hakimian (@SpencerHakimian) April 9, 2025

Robyn Dixon, Moscow Bureau Chief for The Washington Post, reports that the “JD Vance comment about ‘Chinese peasants’ was taken in China as deeply offensive, and it is now a hurdle to trade talks. Trump administration’s approach appears tone deaf on this.”

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Spencer Hakimian, the founder and chief investment officer of the hedge fund Tolou Capital Management, one week after the Vance “peasants” comment, posted that “Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.

“That’s a $20B annual loss for the United States at $60/barrel.”

Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.

That’s a $20B annual loss for the United States at $60/barrel. pic.twitter.com/Q4N1jzHWCF

— Spencer Hakimian (@SpencerHakimian) April 16, 2025

Bloomberg News reports that “China wants to see a number of steps from President Donald Trump’s administration before it will agree to trade talks, including showing more respect by reining in disparaging remarks by members of his cabinet, according to a person familiar with the Chinese government’s thinking.”

It’s not just China, Greenland, Ukraine, or Germany that have had to experience the American Vice President.

According to The Independent, Vance wants the Prime Minister of the United Kingdom to repeal hate speech laws “in order to get a trade deal over the line.”

The UK-based news outlet adds that “a senior Washington figure, who has provided advice for the administration, claimed he is ‘obsessed by the fall of Western civilisation’ – including his view that free speech is being eroded in Britain – and that he will demand the Labour government rolls back laws against hateful comments, including abuse targeting LGBT+ groups or other minorities, as a condition of any deal.”

“’No free speech, no deal. It is as simple as that,’ the Washington source said.”

That may come as a surprise to some, but taking a walk back to just a few months ago, it shouldn’t.

In February, Vance traveled to Germany to declare support for its growing neo-Nazi party.

“After berating European allies, Vance met with the leader of the far-right AfD party, Alice Weidel,” The Washington Post’s European Affairs columnist Lee Hockstader wrote.

“That Vance took up the cause of the AfD, a party polling at around 20 percent which many Germans regard as beyond the pale, is heedless of history and contemptuous of the transatlantic alliance,” Hockstader said. “In doing so, he managed to transform Europe’s old stereotype of the Ugly American into something more grotesque: the Malicious American.”

Watch the video above or at this link.

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