Can Jay Powell Make It Through the Weekend? | RealClearPolitics
Is the Fed chairman, Jay Powell, going to make it through the weekend? There is talk that he is being forced to resign.
President Trump, of course, is on his case daily for not dropping interest rates in line with low inflation.
Just a few moments ago, the head of the Federal Housing Finance Agency that regulates Fannie Mae and Freddie Mac and oversees the 11 federal home loan banks, William Pulte, issued a statement, saying: I m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.
Yesterday, the Office of Management and Budget s director, Russ Vought, condemned Mr. Powell for his gross mismanagement of what Mr. Vought calls the palace of Versailles.
Mr. Vought said: We saw Chairman Powell. He was too late to recognize inflation, and now he s too late to lower rates. And the Fed has just mismanaged the institution. And we see that the extent to which they ve been operating at losses for a number of years now is for the first time in their history.
Larry Kudlow.
I’m going to leave this to the experts.