00:00Let's start by talking about the head, the chairman of the Fed, Jerome Powell.
00:06There have been mixed reports this week suggesting that President Trump was considering firing him from the job.
00:14Some analysts saying that would have been a mistake.
00:18Markets reacting a little bit to this, but it seems that President Trump has decided against this, at least for the time being.
00:24What are you hearing?
00:25It would be a grave mistake for President Trump, especially during this time, to touch the Federal Reserve.
00:32We have to remember that the Federal Reserve is an independent office outside of the White House.
00:38It should be independent and it should not be pressured by political pressure.
00:45So that is something that was really, really clear on President Trump's mind when he was making this decision.
00:50Clearly, President Trump wants interest rates to go down so that borrowing power in the United States can go up.
00:57Everything from buying cars to student loans to everything would improve the American economy.
01:04But Jerome Powell is holding his grounds and he knows, Jerome Powell, that his four-year term ends next May of 2026.
01:13So he's just going to hang on there. He doesn't have to buckle to political pressure.
01:19So that's critical to know that those two, the Federal Reserve, as well as the White House, are completely separate.
01:26Usually they play very nice together, but not in this case.
01:29I see that.
01:47I think that's very easy.
01:47Why are you hearing me hearing the ring that says,room, or crypto?
01:53Why'd you hear this?
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