President Trump is taking on the Federal Reserve, calling current Chair Jerome Powell a “numbskull” for keeping interest rates too high. Hardworking Americans can’t buy homes because of Powell’s terrible decisions, which might be politically motivated. The president plans to let Powell finish his term ending next May but won’t rule anything out.
Treasury Secretary Scott Bessent announced a formal process to replace Powell as Fed Chair. There are many strong candidates inside and outside the Fed. Bessent says Powell should step down completely after his term ends to avoid market confusion from a “shadow Fed chair.”
Richmond Fed President Tom Barkin warns the next Fed leader must focus on policies that help our economy, not political games. The interest-rate committee doesn’t blindly follow the chair’s lead. Barkin believes in doing what’s best for America, not bending to Washington pressure.
Trump blasted Powell again this week, saying people can’t buy houses thanks to the Fed’s mistakes. He called Powell a “knucklehead” pushing rates above 1%. But the president signaled Powell could stay until his term ends next spring, showing Trump’s patience with failing bureaucrats.
Conflicting messages swirl in the administration about Powell’s fate. Some want him fired now, others demand investigations, while Trump seems ready to wait. This disarray highlights the mess Powell created with his poor leadership at the Fed.
Businesses and families face uncertainty as political fighting distracts the Fed. Barkin describes our economy like “driving through fog”—dangerous when Washington elites play power games instead of cutting rates to help workers. This confusion hurts Main Street.
A new Fed Chair could mean faster interest rate cuts to boost jobs and growth. Trump wants rates below 1% to free up money for homes, cars, and businesses. The next leader must focus on real people, not Wall Street or political agendas.
The Fed needs a clean break from Powell’s failures. Patrio
