Dan Pfeiffer

There's also been a lot of back and forth lately about Fed Chairman Jerome Powell.

The DOJ recently dropped its bogus investigation into him over the renovation of the Fed building.

Not only is Powell not going to trial, he's rewarding Trump's effort by sticking around the building longer.

Let's take a listen.

Trump, of course, responded on True Social.

Jerome, too late, pal, wants to stay at the Fed because he can't get a job anywhere else.

Nobody wants him.

Alex, did you ever think that Jerome Powell would be the hero we were waiting for?

Is his decision really a big deal?

It's stuck on the other side of the street right now and it cannot get to you.

I understand.

Yeah, the reason why it's specifically important is it denies Trump another vacancy on the Fed board to a point.

Yes, that too.

I think this has a couple of things.

One, Jerome Powell knows how power is deployed and how to use it.

And this gives him leverage over Trump for the investigation.

Because the original investigation was dropped because Tom Tillis would not approve Kevin Warsh as the next Fed chair until the investigation into Jerome Powell was dropped by the DOJ.

The fact that you can just drop the investigation at the whim of a senator suggests it was not that serious an investigation to begin with.

But of course, we knew that.

And it also, I think, says something about how Jerome Powell feels about Kevin Warsh, or at least some fears that Kevin Warsh might be more of a Trump stooge than he suggested in his hearings.