The Adam Mockler Show - Trump THROWS TANTRUM after getting CALLED OUT!

Episode Date: April 17, 2025

Adam Mockler with MeidasTouch Network breaks down Donald Trump's reaction to fed chair Jerome Powell. Learn more about your ad choices. Visit megaphone.fm/adchoices

All right. This is incredibly serious. What Trump tweeted out this morning at 5 a.m. could hurt our economy for years for a decade if Trump doesn't calm the hell down because he is currently pissed off at Jerome Powell, who is the chair of the Federal Reserve, because J.POW told the truth in Chicago yesterday. Jay Powell has been, honestly, one of the only people over the past few months keeping a steady hand with the economy. And I know that it's not totally showing. The stock market isn't a frenzy. A lot of CEOs are panicked. But I do want to give some credit to Jerome Powell for, number one, constantly saying we will never allow any political pressure to change our minds. I mean, part of the reason why Trump is so mad, which we'll get into in one second, is because he wants to fire J.POW, but he doesn't have the power to. He wants to remove J. Powell. He doesn't have the power to.

And Jerome Powell keeps going on stage and saying, hey, we're going to be independent for as long as we exist. Listen really quickly. That we're monitoring carefully. Generally speaking, Fed independence is very widely understood and supported in Washington in Congress where it really matters. And, you know, the point is we can make our decisions and we will only make our decisions based on our best thinking, based on our best analysis of the data about. Best thinking, best analysis, what kind of liberal propaganda is that? We go off Trump's instincts. We go off Trump's pure instincts.

What is the way to achieve our dual mandate goals as we can to best serve the American people? That's the only thing we're ever going to do. We're never going to be influenced by any political pressure. Okay, but in all seriousness, that is how the Fed is supposed to work. That is how it's supposed to operate. When it's independent, that allows a functioning economy. It's the cornerstone of a functioning economy because if the Fed chair were a political appointee meant to serve the president or to push the president's agenda forward, even if it's a bad

idea, then it would not be a good idea. They're appointed to be apolitical and to guard the long-term health of the economy, not coddle whatever president is in office at the time, especially one that is caught up in a lot of grievance and Trump's policies are all incoherent. And, you know, Jerome Powell called that out. I'll break down Trump's post in just one second, but I think it's important we lay the groundwork. Like, listening to the Fed chair saying that the current policies will lead to more inflation. The level of tariff increases announced so far is significantly larger than anticipated and the same is likely to be true of the economic effects, which will include higher inflation and slower growth.

And you know Trump was livid at this. Somebody told the truth on stage about him. Trump was livid. One more clip. The initial reading on first quarter GDP in a couple of weeks. The data we have in hand so far suggests that growth has slowed in the first quarter of this year from last year's solid pace. Despite strong motor vehicle sales, overall consumer spending appears to have grown modestly. In addition, strong imports during the first quarter reflecting attempts by businesses to get ahead of potential tariffs. So the GDP could slow, and he uses some really interesting wording. He says, slowed in the first quarter this year from last year's solid pace.

He even makes sure to point out that last year, we were on a solid pace. Who was president last year, by the way? Oh, yeah, the old guy who had a steady hand. I would take the old guy with a steady hand over the orange raving lunatic any day because the orange raving lunatic is now trying to strip independence away from the Federal Reserve in the same way that Erdogan began to take over his country's economy. And it didn't turn out too well. So I do want to repeat, credit where credit is due.

I think Jerome Powell may be the only reason the U.S. economy is slightly on fire instead of completely engulfed in flames. Now, yes, the U.S. economy is still on fire, but this would have been way worse if Jerome Powell wasn't out there being a calm, steady voice. And a lot of people are going to disagree and say, Adam, Jerome Powell doesn't have any effect. He can't change anything. But that's not true. When Jerome Powell speaks, when the Fed Chair speaks, the markets move. There's a direct correlation between his speeches and the markets. That is how it works.

So when he goes out there with a calm demeanor and a steady hand, at a time when Trump is running around, essentially setting the economy on fire, ideally Jerome Powell is able to restore even the slightest bit of confidence in American markets and in the American economy. So CEOs and business owners know that we're safe to invest in. Now, at the end of the day, what the president does, does overshadow the Fed chair because this current president is a huge attention whore. But I think credit where credit is due to Jerome. Now, let's get on to the main scary part.

I mean, there are a lot of scary parts with this, but Trump's tweet at 512 a.m. this morning central time about the Fed chair is a huge step in the wrong direction, in a terrible direction. We're already seeing signs of something really dark here because just generally, Americans have never had to wonder if their currency is on the edge of collapsing or had to second guess if the US dollar is about to be weak next week. Overall, I know that there are exceptions to this. Americans have enjoyed a relatively stable currency, but now, as the U.S. dollar is beginning to weaken, it feels like Erdogan's Turkey, where he gained control of the economy and cut interest rates on the whim of his ego and on the whim of his political goals over the next six months with no long-term analysis.

I played a clip earlier where Jerome Powell says directly that there needs to be analysis and data going into it, but when you're going at the whim of one man's political ego, whether it's Erdogan and Turkey who ruined the economy or Trump, who is still ruining the economy, it's not good. If Trump gets his way, America's global financial credibility is finished. We are done. There won't be a safe market to park your money and investors will treat U.S. assets like they treat assets in corrupt, unstable regime, something to flee from, not something to park your cash in.

Okay, now let's break down what Trump said. He wrote this morning, quote, the ECB is expected to cut interest rates for the seventh time and yet too late Jerome Powell of the Fed, who was always too late and wrong, yesterday issued a report, which was another, and typical, complete mess. And when he's talking about the ECB, it's the European Central Bank, who has cut interest rates for the seventh time. But we're not Europe. We are not the European Central Bank, and Jerome Powell knows that. I think Jerome Powell has a better understanding of what's going on than Trump, but I'm just taking a guess there.

Also, the way this dude writes is such a mess. Why is it always full of commas? And then a small phrase and a comma, and then a phrase in a comma. Like right here, too late Jerome Powell of the Fed, comma, who was always too late and wrong, comma, yesterday issued a report, which was another comma, and typical comma, complete mess. Who writes like this? But to continue, he says, oil prices are down. Groceries, even eggs, are down.

Not true. Now, egg prices may be down from their massive peak after Trump took office, but gas prices are exactly where they were under the Biden admin. He then says, in the USA is getting rich on tariff. Have we even collected any of it yet? Too late should have lowered interest rates like the ECB long ago, but he should certainly lower them now. Powell's termination cannot come fast enough. Now, just to debunk that end line, Trump suggested firing the Fed chair. He's talked about it multiple times, but he does not have the power to remove him because, again, it's independent.

President Trump lashed out at Fed Chair Jerome Powell, suggesting that his termination is coming soon, despite having no power to enforce this whatsoever, but to go back to Trump's tweet, it's just a blatantly authoritarian way of trying to manipulate and have power over the economy. And the problem with Trump's framing here is that Trump refers to Jerome Powell like he's this dictator of the American economy, or he's a dictator of monetary policy, but he's not. He's the spokesperson for the Federal Open Market Committee, which is the FOMC, and they operate by consensus among multiple Fed governors and regional bank presidents and experienced smart people. So we have a system that is designed explicitly to avoid the type of centralized

autocratic decision making that Trump seems to want where one man, one ego can decide how the whole economy runs. No, you want a consensus among people who have stake in the game, not people with conflicts of interest. You don't want Elon Musk running the policy, but it's probably important to have people who understand how banks work running monetary policy. Also, the idea that the U.S. is getting rich on tariffs, as he says here in all caps, is number one, not true. Tariffs are paid by American businesses and then therefore consumers, but also this contradicts Trump's stated purpose of the tariffs. Trump has put forward many different end goals regarding the tariffs. None of them quite clear. But one of the most prominent ones is that we're

trying to re-shore American manufacturing. So we don't have to rely on the supply chains of other countries, if we get into a war or another pandemic, we can build everything at home in America. But the question then is, how are we going to get rich on tariffs if we're not even importing anything? Because that revenue that's raised by American consumers and businesses, by the way, comes because you're taxing imports. But if you're not importing everything and you're building everything at home, then where is the revenue going to come from? None of it makes sense. Maybe I'm overthinking something that is not supposed to make sense in the first place. Because I could sit here for three hours and lay out all of the contradictions between Trump

in his admin, but I guess I'll leave it with this. Trump right now claims that prices are down, but this isn't even universally true. It's not even mostly true. Some prices have come down, like of eggs from the peak level of about a month ago when they were at like $11, but it's still way higher than it was under the Biden admin. Nothing has come down. In fact, we're going to see inflation continue to rise. And you can mark my words on this. If Trump's tariff policy stay in place, which they seem likely to, inflation will rise. I'm not making some huge bet here. It's just Econ 101. But make sure you drop a like. Subscribe. I'll see you all in the next video and peace out.