The Father, the Don, and the Fed Chair’s Post

Key Points:

• The U.S. Central Command has declared a tightening blockade on Iran, authorizing the inspection of Iranian vessels and those suspected of carrying contraband, with no ships having breached the blockade so far.
• President Trump has threatened to fire Federal Reserve Chair Jerome Powell if he does not resign voluntarily, but Powell remains protected by law and Senate opposition to Trump's nominee Kevin Warsh is blocking a replacement.
• The criminal investigation into Powell over Federal Reserve building renovations is seen as a political tool by Trump to pressure or remove him, but courts have invalidated subpoenas related to the probe, and the investigation's continuation is prolonging Powell’s tenure.
• The Trump administration promotes a worldview that "might makes right," clashing with the principles upheld by the first American pope, Leo XIV, whom Trump sees as a political threat due to his popularity and defense of justice over power.
• Despite Trump's claims of victory in Iran, analysts suggest the conflict has strengthened hard-liners in Iran, with global markets stabilizing but maritime traffic in the Strait of Hormuz still disrupted; meanwhile, Director of National Intelligence Tulsi Gabbard has submitted a criminal referral against key figures involved in Trump's first impeachment.