this post was submitted on 12 Jan 2026
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This is Jerome Powell, the head of the Federal Reserve, and the guy that controls interest rates to prevent the economy from imploding.
He's been resisting Trump since the beginning, and desperately trying to be the only rational person in the administration that's trying to keep the American economy from collapsing.
Trump is mad that Powell isn't being his lackey so he's been threatening Powell with legit federal charges, trying to throw his weight around.
He actually doesn't directly control rates, he's the chair of a board that includes about a dozen regional vice chairs who all vote on rate adjustments. He presumably has an outsized political influence on their direction but ultimately he's executing on and announcing the board's decisions.
*illegitimate federal charges
Though, I guess the charges can be legit, while the basis for them illegitimate.
It reads like “legit” is being used as “real, actual,” which in this case wasn’t a great choice since the charges are completely… ah… Trumped-up.