David

Federal prosecutors are looking into whether Powell lied to Congress during this testimony.

This has nothing to do with anything about what Trump wants.

I think the claim here is that Trump is just finding a way to go after Powell because Powell's not doing the thing that he wants, which is lower interest rates.

Right.

They don't like my independence.

They don't like how I am free to do what I see is appropriate for my job because everyone else that Donald Trump appoints to whatever other sector of government always is identified as somebody who will just do Trump's bidding.

Powell's not doing Trump's bidding.

And so Trump is finding a way to go after him.

I take Eric's point in the sense that the Fed is not unbiased.

The Fed has biases, but they are different from Donald Trump's biases, which are not the same type of biases as the Fed.

And the Fed can be biased and still be independent from the president.

And, you know, the Fed has a job.

It has a mandate.

Like, we are humans.

We can apply our energies and our efforts to try and get that job done.

And I think, you know, you can look back at Powell's legacy.

Powell's done a pretty good job.

We were talking hella crap about Powell.

I remember you and I were talking about hella crap about Powell in 2020 and 2021 during COVID.

And then everyone was like, oh, they have to thread the needle.