The Trump administration is carrying out a corrupt prosecution of the Federal Reserve chair. But messing with Fed independence might spark inflation, and everyone hates that.
Federal Reserve
Posted inTAP
Trump’s Attack on Powell Backfires
The president’s campaign of distraction and personal retribution escalated over the weekend, as Federal Reserve chair Jerome Powell was served with grand jury subpoenas. Even Trump’s allies are disgusted by the clumsy power grab.
Posted inEconomic Policy
Judge Warns Vought of Contempt Order if He Back-Door Shuts Down CFPB
Judge Amy Berman Jackson has clarified that Vought would violate her injunction against shuttering the consumer protection agency if he declines to seek funding for it.
Posted inTAP
Will the Court Rule for Trump or for Wall Street?
As the Supreme Court now considers whether Trump can take over the Federal Reserve, we lose either way.
Posted inTAP
Trump’s Self-Imposed Economic Trap
Even if he gains control of the Fed, monetary policy can only do so much—and Trump rejects other policies that could cut the high cost of living and improve growth.
Posted inEconomic Policy
Russ Vought Tries to Bankrupt the CFPB
A legal office in the White House, at the behest of Office of Management and Budget director and Project 2025 architect Russ Vought, has decided to redefine the word “earnings” in order to bankrupt the largely dormant Consumer Financial Protection Bureau.
Posted inTAP
Trump in Court
Trump’s increasingly flagrant efforts to govern as an outright dictator leave us heavily reliant on the Supreme Court. But three key cases coming before the Court, beginning with the tariff case to be argued this Wednesday, may not go so well for him.
Posted inTAP
Trump’s Faltering Economy
The seemingly not-too-bad Trump economy is living on borrowed time. Both inflation and employment are getting worse, and the booming stock market is in AI bubble territory.
Posted inEconomic Policy
Fed Making Key Economic Decisions Without Key Economic Data
The Fed considers information from a variety of sources in setting monetary policy, everything from anecdotal reports to original data produced by its regional Reserve Banks. But the loss of public, and apparently some private, data is an acknowledged blow.
Posted inTAP
The Federal Reserve Is Out of Tricks
Today on TAP: And so is Trump’s maneuver to take over the central bank. Even if he were to succeed, there is no good monetary cure for Trump’s economic carnage.
