Legal AF by MeidasTouch Trump Loses His Mind as Fed Chair Refuses to Obey
Jan 31, 2026
A fiery clash over Federal Reserve independence as Powell pushes back against political pressure. A rapid-fire look at tumbling consumer confidence, rising oil prices, and a weakening dollar. Tariffs and strained alliances are linked to a growing trade deficit. Tension over potential political control of the central bank and its risks to monetary policy.
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Powell Shields Fed Independence
- Jay Powell is publicly defending Federal Reserve independence against political pressure from Donald Trump.
- Michael Popok says Powell's stewardship is the primary bulwark preventing the Trump economy from collapsing.
Consumer Confidence At Multi-Year Low
- Consumer confidence has plunged to levels not seen since 2012, signaling consumers are cutting spending.
- Michael Popok warns this is critical because consumer spending is a major engine of GDP.
Oil Spike Tied To Geopolitical Risk
- Oil prices spiked from $58 to about $70 per barrel in recent weeks amid geopolitical saber-rattling.
- Popok attributes the surge to Trump's threats toward Iran and destabilization of oil markets.