Golden Finance reported that during Trump's campaign, he stated that the Federal Reserve's interest rate decisions should seek his opinion. Federal Reserve Chairman Powell did not ignore these remarks; he made it clear that if Trump asked him to resign, he would not resign—reason being that the president has no legal authority to remove him from office. These dynamics set the stage for a confrontation between the Federal Reserve and the incoming president. TS Lombard economist Dario Perkins believes Powell will have the upper hand. "Now we face a larger-scale confrontation between populists and 'bond vigilantes.' Many expect a conflict between Trump and Powell to erupt," Perkins wrote. "If Trump challenges the Federal Reserve, it can be imagined that Powell might 'weaponize' the bond market to teach Trump a lesson."