Yeah, I think it's right to connect the dots between assault on, you know, many different

independent institutions, which is a theme that has run through the not quite hundred days

of this second Trump term. And I would point out that as far as Chairman Powell goes,

you know, you noted that he was appointed by Donald Trump in his first term.

Donald Trump also repeatedly threatened to fire Powell in his first term. In fact,

we did reporting for our book The Divider, and it was clear that some senior officials at the Fed

literally could not go to sleep for months worrying about the next day being the day,

that there would be a constitutional crisis, an impasse between the independent Federal Reserve

and the White House. It didn't come to pass in part because it was a very different regime

at that time. And Treasury Secretary Stephen Mnuchin essentially spent almost full time managing

Trump to avoid that kind of catastrophe. By the way, Powell was prepared to spend,

quote, every last nickel of his own money, and he has millions and millions of dollars in order to

go to court to stop Donald Trump from eroding the independence of the American Central Bank,

which many Wall Street investors, of course, believe is one of the

pillars of our economy. So if Trump takes the next step, I would expect Powell to consider

very seriously suing him. I would expect there to be a major crisis that obviously will add

further instability into our markets and a level of uncertainty at the core of the American

financial system that I think is unlike anything we've ever seen. If there is that kind of

outright confrontation between the chairman of the Federal Reserve and the president of the

United States. Are they spending their nights awake over this? How about this Wall Street

Journal headline that I just saw tonight?

Dow headed for the worst April since 1932 as investors send a no-confidence signal.

...