Almost every cabinet or staff appointment announced by US President-elect Donald Trump has been met with a predictable wave of media outrage. Some of this hysteria can be attributed to deep-seated partisan biases, some reflects legitimate concerns, and some is pure nonsense.

When it comes to the US economy, however, the spotlight is on whom Trump might try to dismiss rather than whom he plans to appoint. Although Trump has said he will not seek to remove Federal Reserve chairman Jerome Powell – whose term ends in May 2026 – there is little doubt that Trump would love to tell Powell, “You’re fired.”

Project Syndicate