You’re all over the map here. Powell should be fired because he is too slow to lower interest rates or raise interest rates Or keep them where they are or what? Otherwise (weirdly ) I kind of agree with you on the dual mandate. Price stability is the primary goal. Employment is a secondary consideration. At least in theory creating money doesn’t create long term jobs.
What is it that is causing you to make false claims. I said he has been a poor governor. I didn’t say he should be fired. Big difference.
If he were good, he would have ...... uh, not done anything differently. But Donald Trump would have said good things about him. Donald Trump is a monetary policy expert!
Compare his actions against his counterparts in Europe. How did US inflation compare with European inflation?
This is a terrific post. But what is the Chairman and the entire Board supposed to do with the persistence of unpredictability when the President screams 50% tariffs … no 100% tariffs … no 30% tariffs … no NO tariffs … no back to 30% tariffs? Because one thing I HOPE we can all agree on is that with the tariffs comes across the board higher prices and thus inflation. It seems to me that there is undue and unjust finger-pointing on the Fed, when the real finger-pointing should be to the guy who keeps pushing Whiplash Economics.
So, we should embark upon tariff wars across the world? You think that’s going to either maximize jobs or maintain price stability? The Fed can’t just act in a vacuum, it needs to act based upon so many factors, including the administration’s published policies.
Hmmm. Fiscal stimulus while still locked down due to a global pandemic in 2021 versus ...... ...... larger fiscal stimulus in 2025 by virtue of tax cuts for the rich. At a time when the economy is strong. Which is more stupid? Which did you vote for?
Except: "In a post on its website on Friday, the Fed addressed many of the questions in Mr. Vought’s letter, which specifically asked about the latest plans that Mr. Powell had relayed to lawmakers. “There’s no V.I.P. dining room, there’s no new marble,” the chair said at the time. “There are no special elevators — there’s just, there are old elevators that have been there — there are no new water features, there’s no beehives and there’s no roof terrace gardens.”
They want to juice the economy for the 2026 elections. They desperately want to get Powell out so they can install their lackey. So they are attacking Powell with everything they have.
And those artificially low rates also led to the second biggest bubble in US history and economic devastation. It’s the absolute last thing we should be emulating.
There is a case to be made that, because of his business acumen, Don Trump can install himself as the new Fed chair.
Perhaps Powell won’t have to resign after all. Trump Likely to Fire Powell Soon, White House Official SaysTrump Likely to Fire Powell Soon, White House Official Says - Bloomberg
Trump's mental health is declining rapidly. Yesterday he commented how his uncle taught the unabomber at MIT (who didn't go to MIT) and now he forgets that he nominated Powell
Although construction began in 2021, the plans for the expansion and renovation of the Fed's headquarters were approved in 2017. Last time I checked Powell was nominated to Chair the Fed until 2018. The building was in serious need of updating and it should be obvious that Trump is using the cost of the expansion as a pretext to fire Powell. By the way if Trump does get his way and forces the resignation of Powell as if Trump's tariffs aren't enough an expansionary monetary policy at the wrong time will almost certainly result in stagflation down the road. I think this guy is much more knowledgeable about economic policy than Donald "six bankruptcies" Trump. Jamie Dimon Backs Jerome Powell Over Trump in Fed Fight Just in case anyone may have forgotten the last time a president had a completely compliant Fed Chairman was back in 1972 when Arthur Burns was the Fed Chair. At the request of Nixon Burns lowered interest rates in 1972 to juice up the economy and guarantee Nixon's reelection. Nixon won in a landslide in 1972, 1973 and 1974 saw double-digit inflation and 1974-75 saw the worst recession since the Great Depression.
