Last week, Fed Chair Jerome Powell held his first press conference under President Trump’s second term. Powell swiftly addressed the topic of Trump in the Q&A Session, stating:

I’m not going to have any response or comment whatsoever on what the President said. It’s not appropriate for me to do so.

Essentially, it sounds like another supranational organization, comprised of a collective of central banks worldwide, aimed at planning and coordinating eco-friendly, or green initiatives.

The Fed withdrew from the NGF only several days prior to Trump taking office, as Powell explained his reasoning:

But it was really not driven by politics, it was driven by kind of the disconnect between the work of the NGFS and our mandate. Other central banks have different mandates, and belong to the NGFS, we have no criticism of them, but it just isn’t, it’s not right for the Fed.

Whether this counts as a win for Trump, a pre-emptive move by Powell, or an idea Powell genuinely thought was best, we’ll never know. But it sounds like another bullet was dodged, given that history consistently demonstrates that centrally coordinated economic planning, especially central banking, has often been detrimental to liberty, freedom, and the purchasing power of the US dollar.