The name of Jerome Powell, the now former president of the Federal Reserve (Fed), is assured to go down in history as the man who dared to resist Donald Trump, as per Bloomberg, who assesses his “eight tumultuous years at the helm of the world’s most powerful central bank.”
Dubbed “Too Late” and called “fool,” “dolt,” and “complete fool” by the American president for his refusal to quickly lower interest rates, Jerome Powell remained steadfast in the face of multiple pressures (not just verbal) exerted by the White House tenant since the beginning of his second term.
Bloomberg also recalls a scene from last July: the president of the United States and the president of the Fed inspecting side by side the renovation site of the institution’s headquarters in Washington, both wearing construction helmets in the summer heat.
The goal of the operation: to demonstrate that Powell was just an incompetent bureaucrat, unable to control the project’s costs. The head of the central bank then put on his glasses to examine the document supposedly proving his negligence, before calmly explaining, in front of the cameras, that there was an error in the numbers.
