It's not the 1970s, #JeromePowell stresses [we’ll see]

We face risks for higher #unemployment, higher #inflation, that's difficult for a central bank

Powell also said:

Fed #independence on monetary policy is critical, to keep it should not get involved in other issues. [Trump also has expressed interest in making the Fed much less independent as he has done to other #FederalAgencies]

Earlier Friday, #Trump said it would be the "perfect" time for the Fed to lower interest rates.

He says he's witnessing "something big"

Da has followed the #Trump admin's firing of many US #FederalWorkers & its dismantling of #FederalAgencies. As a past visitor to Washington, he knows people who have been fired.

"Having said that," he added, "I don't want to be too critical to the Trump administration just from this personal level. As a scholar, I try to be neutral. I think there is something big happening in the #US. It could be bad. It could be good."

…As recently as Thurs, WH press sec Karoline Leavitt had assured reporters that, "when it comes to #StudentLoans & #PellGrants, those will still be run out of the Dept of #Education."

After announcing these potential changes to the federal student loan portfolio, #Trump then said, "Bobby Kennedy, the Health &Human Services [secretary], will be handling special needs," referring to #RFKJr. []

Multiple sources at #FSA who could not speak publicly for fear of #retribution said they were blindsided by the news.

Logistical challenges aside, the role of the office of Federal #Student #Aid as the administrator of the #StudentLoan portfolio is protected by #law. It's not clear how these responsibilities could be #legally moved w/o a vote of #Congress. [not that #Trump cares]

Judge Howell added she was particularly concerned about the success of the plaintiff’s likelihood of success, particularly because they had sued in their official capacities even though they had been removed.

#USIP sued the #Trump admin after members of #ElonMusk’s #DOGE effectively executed a physical takeover of USIP HQ earlier this week.

Joseph Rillotta, a senior #IRS lawyer, wrote that “no one” at the IRS had taken into account the performance of the probationary workers set to be fired. Rillotta urged that the language be struck from the draft termination letter.

If the falsehood wasn’t removed, Rillotta said he would file a report w/the #InspectorGeneral for the IRS.

#SCOTUS ruled in 1935 to uphold a #law that allows #FTC commissioners to be fired ONLY for good #cause, such as neglecting their duties. The ruling shields a number of #independent, bipartisan multi-member agencies from direct control by the #WhiteHouse.

If the #DOJ wins, as many experts predict it will, the entire executive branch would come under #Trump’s direct control, allowing him even greater power over federal policy, & leaving virtually no barriers to his #MassFirings of civil servants in favor of political stooges.

…The WH is the latest govt property on which #Starlink now operates.

In recent weeks, Starlink was also set up at the #GSA, which has served as a hub for #Musk’s government-shrinking efforts…

While several #FederalAgencies contract w/Starlink, the satellite service is typically used to provide internet access in emergency situations & to remote locations — not at federal buildings in DC, which already have ample internet options.

The flights suggest the #Trump admin may be growing more brazen in its defiance of judicial restraint. The #US #Constitution established the #judiciary as a co-#equal & #independent branch of government.

Trump has sought to *push* [illegally expand] the boundaries of #ExecutivePower since taking office in Jan, cutting spending authorized by #Congress, dismantling #FederalAgencies & firing tens of thousands of #FederalWorkers.