Jerome Powell gave what many expect to be his final speech as Federal Reserve Chairman at Jackson Hole on Friday. After years of failed policies that hurt working families, Powell tried to paint a rosy picture of the economy. His timing could not be worse as millions of Americans still struggle with high prices at the grocery store and gas pump.
The Fed under Powell completely botched inflation control during the Biden years. They printed money like there was no tomorrow and then acted surprised when prices skyrocketed. Powell claimed inflation has come down from post-pandemic highs, but that is like bragging about putting out a fire you started yourself.
Markets jumped after Powell’s speech, which shows Wall Street loves when the Fed talks about keeping rates low. But this is exactly the wrong approach for hardworking Americans who need stable prices, not more market bubbles. The wealthy get richer while regular folks pay more for everything from eggs to electricity.
Powell and his team have shown they care more about pleasing big banks than protecting Main Street families. Their policies have made housing unaffordable for young Americans trying to buy their first home. Meanwhile, they pat themselves on the back for job numbers that do not tell the whole story about economic pain.
The Federal Reserve has become too powerful and too political under Powell’s leadership. They should stick to basic money policy instead of trying to manage every aspect of the economy. Conservative principles demand we return to sound money and limited government interference in free markets.
Powell admitted the balance of risks is shifting, which sounds like Fed-speak for admitting they do not know what they are doing. His framework review is just more academic nonsense that will not help families struggling to pay bills. We need leaders who understand that stable money means stable lives for American workers.
With President Trump returning to office, there is hope for better economic policies that put America First. The next Fed Chairman needs to focus on the basics instead of woke experiments with our money supply. Powell’s legacy will be remembered as a time when the Fed lost its way and forgot about regular Americans.
The bottom line is simple: we need leaders who understand that economic policy should help working families, not Wall Street elites. Powell’s Jackson Hole speech was more of the same failed thinking that got us into this mess. It is time for real change that puts American workers first and restores fiscal responsibility to our nation’s capital.
