Powell is worried about bailing out Treasury on the debt issue

President Donald Trump has told confidants as recently as Wednesday that he believes he has the authority to replace Jerome Powell as chairman of the Federal Reserve Board, according to people familiar with the matter. 
 In Trump’s line of thinking, he could demote Powell to be a board governor, but isn’t planning to do so right now, the people added.

Trump wants to expand the debt without corresponding increases in productivity.

The reason we cycle is because the Fed warns everyone that the government debt cycle is turning, and the private sector need prepare for a down turn.  No Fed chairman wants to get stuck bearing the debt issue alone.  The private sector is taking a hit on this.  Until Trump or the senators get a clue, the plan is an infinity of half point deflation.

Maybe the better plan, after all, is to put Biden in charge.  Trump seems permanently clueless and likely to start a war over this crap.  The alternative, MMT is happening, perhaps Biden can see the light on this. Biden was there in 1971, the last time we did this.