President Trump and Fed Chairman Jerome Powell. Photo courtesy of the White House President Trump has been criticized for saying he would like to fire Federal Reserve Chairman Jerome Powell. Opponents call the idea politically motivated and unprecedented, warning that dismissing Powell, whose term has less than a year remaining, would undermine the Fed’s independence and destabilize financial systems. First, the President was elected by the American people to act in their best interests, not to serve the world. If firing the Fed Chairman benefits the U.S., then the impact abroad is secondary. Just as Trump challenged NATO on defense spending, pressed Europe over unfair trade, and questioned endless foreign aid, his decision to hire or fire U.S. officials is a matter of sovereignty,…
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