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Snapshot 14:Mon, Jul 21, 2025 7:57:13 PM GMT last edited by MattKalman

Bessent Calls for Fed Review After Reports of Lobbying Against Powell Firing

Bessent Calls for Fed Review After Reports of Lobbying Against Powell Firing

Above: Scott Bessent during the US National Day ceremony in Osaka, Japan, on Saturday, July 19, 2025. Image copyright: Buddhika Weerashinghe/Bloomberg/Getty Images

The Spin

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's 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.

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Metaculus Prediction

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.


The Controversies



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