TACO for Lunch? Trump Once Again Stops Short of Firing Fed Chair Jerome Powell

Wednesday was Federal Reserve Chairman Jerome Powell's day to ride the giddy Tilt-A-Whirl with the drunk operator that is the current presidential administration. First, rumors abounded that the president was about to fire him—which would have been dubious legally but just go with it anyway. Then, it appeared that TACO was the lunch special in the White House mess again. From The New York Times:

President Trump showed off a draft of a letter firing the chair of Federal Reserve, Jerome H. Powell, during a meeting with roughly a dozen House Republicans on Tuesday night, polling them as to whether he should do it and indicating that he likely would, according to two people briefed on the meeting.

It remains to be seen whether Mr. Trump will actually go ahead with trying to fire Mr. Powell, a move that some in his administration have cautioned could be calamitous and have far more expansive fallout than the president appears to anticipate. The meeting in the Oval Office was on an unrelated topic — the House members’ apprehensions about a crypto-related piece of potential legislation. But Mr. Trump used the meeting to discuss what has become one of his favorite topics: his hatred of Mr. Powell, whom he elevated to chair in 2017, during his first presidency.

Later in the afternoon....From Bloomberg:

“No, we’re not planning on doing anything,” Trump told reporters on Wednesday. He later added, “I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”

I don't think this is anything more than a disturbed old guy whose feet haven't touched the bottom of the pool in over a decade, and who is acting on whatever was last whispered into his straw-haloed head. Not that it makes any great difference in terms of the damage he can do to the country.

As confusion swirled over Trump’s plans with regard to Powell Wednesday morning, chieftains of two of the biggest American banks emphasized the importance of the Fed’s autonomy from the political sphere.“Fed independence, particularly on monetary policy, is super important,” Goldman Sachs Group Inc. Chief Executive David Solomon said on CNBC. “Stability in the Fed seat I think is important.”

What is this "stability" of which you speak?