The News Agents "You're fired" - Why Trump's catchphrase is spooking the world economy
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Apr 22, 2025 Global economic forecasts are looking grim as Trump's tariff plans threaten growth and the independence of the Federal Reserve is called into question. Tensions rise with the possibility of Trump ousting Jerome Powell, raising concerns about economic stability. Meanwhile, inside the Catholic Church, a power struggle emerges between progressive and conservative factions, influencing future leadership. Lastly, younger men turn to Catholicism for community support amid rising conservatism, reflecting broader societal shifts post-pandemic.
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Trump vs Fed Chair Chaos
- Donald Trump cannot legally fire Federal Reserve Chairman Jerome Powell, but he continues to try politically pressuring him.
- This chaos has spooked markets and undermined trust in US economic stability.
IMF Warns of Trade Uncertainty
- IMF cut growth forecasts for all major economies citing Trump’s inconsistent tariffs and trade policies.
- This trade uncertainty discourages investments and drives money into safe havens like gold.
Fed Independence Under Threat
- Trump politicizes the Federal Reserve, demanding rate cuts and blaming Powell for market instability.
- Firing Powell would erode Fed independence, triggering market crashes and much higher interest rates.