No, I think he's being direct.

I think he's addressing globalists here, and abroad, when he says there will be bank failures.

The European central bank, and really a lot of the other central banks, are pretty tied to our interest rates. Christine Lagarde and the ECB would love nothing more than to go back to zero or even negative interest rates. But they can't because of Powell. If the Fed stays at 4-7% for a long enough period of time, it could very well bankrupt the ECB because of "Eurodollars", which are pretty much just dollar futures. Tomorrow's money at yesterday's prices. I believe that the high interest rates are drying up the "Eurodollar market" which everyone else has used to fund a lot of their pet projects across the globe.

ETA: I don't know if Powell is Q aligned, or just a pawn, but I think he is part of the attack on the cabal either way. Trump appointed him for a reason, Powell had to play politics there for a bit while the Biden admin took a whole year to reconfirm him to Fed chair (echoing the inflation is transitory line). And in that time, the Biden admin tried to replace him with Lael Brainard. Trump is saying he would replace Powell if elected again, but I think that's disinfo to keep Powell disconnected from Trump and therefore safe in the position for the time being.