SEN TOMMY TUBERVILLE: The Fed Has Gone Rogue — Fire Jerome Powell
Daily CallerJUL 18
The Fed has lost its way and needs a complete overhaul. Powell's leadership has been marked by stubborn resistance to necessary rate cuts that would help the economy, while wasting taxpayer money on lavish building renovations. The central bank's fear-mongering about tariffs has proven wrong as inflation remains controlled.
The Fed has lost its way and needs a complete overhaul. These academic economists are living in an ivory tower, fear-mongering about tariffs while ignoring the real economic data showing minimal inflation. The $2.5 billion renovation scandal proves Powell can't manage basic operations, let alone monetary policy. It is time for the Fed to start working for the American people.
Firing Powell would create unnecessary market chaos and legal battles when his term ends naturally in May anyway. The Fed's independence is crucial for economic stability, and any attempt to remove the chair would face significant legal challenges while potentially crashing financial markets.
Firing Powell would create unnecessary market chaos and legal battles when his term naturally ends in May anyway. The Fed's independence is crucial for economic stability, and any attempt to remove the chair would face significant legal challenges while potentially crashing financial markets.
These statements from Bessent conflict with the reporting of his behind-the-scenes lobbying to keep Powell in place. Bessent knows the reality that removing Powell would be illegal and an unnecessary shock to the economy, but must always toe the Trump line for the MAGA base. Trump's monetary foolishness is inducing cognitive dissonance in even his most ardent supporters.
There is a 25% chance that there will be an attempt be made to fire Jerome Powell before the end of his term, according to the Metaculus prediction community.