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's 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.
Bessent is obviously making these remarks for an audience of one — Trump. Bessent knows it's unconstitutional for Trump to remove Powell, and there's no mechanism for performing a review of the Fed. Plus, Bessent should be the last person opining on Powell's fate considering Bessent would be in consideration as Powell's replacement.
There's a 25% chance that there will be an attempt be made to fire Powell before the end of his term, according to the Metaculus prediction community.
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 time for the Fed to start working for the American people.