The Federal Reserve’s new report is predicting a worsening economy in just the first 90 days of Trump, driven by his erratic trade, tariff, and immigration policies, as the 12 US economic regions report cratering manufacturing, home sales, tourism, and banks tightening their lending criteria. Simultaneously, Trump’s new poll numbers paint a disastrous presidency where he lost 7 points of support and now the majority of Americans “disapprove” of his performance. Michael Popok dons his Wall Street hat to tie these two events together and explain why Trump weakly threatened, but then backed off from, firing the Federal Reserve Chairman in advance of the report's release.

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