Staff Reports
Breitbart News’ economics editor has decided to throw a spotlight on the relationship between the future President Donald Trump and Federal Reserve Chairman Jay Powell. With Trump coming into office, speculation is swirling about whether he will choose to part ways with Powell, given the Fed’s recent admissions about fiscal irresponsibility in the current administration’s policies.
During a recent appearance on Fox Business Network’s “Kudlow,” the topic of Powell’s rather belated comments on the nation’s fiscal health was brought to the forefront. Powell, while finally expressing concern over a deficit that could only be described as “unsustainable,” seemed to overlook his lack of vocal opposition to the Biden administration’s extravagant spending spree that started back in 2021. It’s somewhat convenient that Powell decided to sound the alarm only after the financial damage was done, as Americans are now suffering the consequences of skyrocketing inflation.
Carney on Kudlow: Trump Can Remove Powell if He Wants To https://t.co/GBecfDQHJQ via @BreitbartNews
— John Carney (@carney) November 11, 2024
No one was holding a gun to Powell’s head during the rollout of the American Rescue Plan, where a jaw-dropping two trillion dollars vanished into thin air, courtesy of the federal government. Critics argue he was alarmingly quiet then, perhaps too busy concocting his next explanation for rising prices to bother giving Congress a heads-up about the repercussions of ridiculous deficit spending.
The thoughtful analysis by Carney suggests Trump could very well have the power to take decisive action by dismissing Powell. After all, if an appointee loses the confidence of their boss, they should probably expect a call from HR—or in this case, the Oval Office. Trump’s possible decision to keep Powell on board shows a level of restraint that’s as puzzling as it is commendable, given the many economic blunders that have plagued the current administration.
However, the question remains: why should Trump be cautious about removing someone whose recent comments lack conviction? The concern lies in the potential for a legal melee that could linger in courts even longer than Powell’s tenure at the Fed. Yet, if anyone knows how to navigate the choppy waters of political confrontation, it’s Trump, and keeping Powell in place might signify a greater strategy at work.
In the wake of economic turmoil, a larger question looms: is it time for conservative leadership to reevaluate who’s steering the nation’s financial ship? Powell’s newfound rhetoric is likely too little, too late, and it raises eyebrows as to whether he’s truly advocating for sound monetary policy or simply trying to save face. As the countdown continues toward Trump’s presidential inauguration, the financial landscape remains uncertain, leaving both humor and skepticism in the air.
