The time has come for President Trump to cut Federal Reserve Chairman Jerome Powell. The importance of Trump’s intervention in Powell’s rate decisions cannot be overstated. On December 18, 2024, just before President Trump returned to the White House, Federal Reserve Chairman Jerome Powell cut the interest rate.
According to NPR, the back-to-back 2024 interest rate cut, the first since 2020, was a rare and significant event. This cut, which was driven by a combination of easing inflation and mounting concerns about the job market, was a crucial step to prevent a potential economic downturn. It showed the Federal Reserve’s willingness to take action to support the economy.
At that time, interest rates were at a 23-year high, following a long period of inflation. And just before the December rate cut, Chairman Powell had cut the rates on September 18, 2024. To boost spending, President Trump has been coaxing and cajoling Powell to lower interest rates. However, Powell’s rejection of Trump’s requests has led to a slowdown in economic growth and a decrease in consumer spending, which are concerning signs for the economy.
The Economical Suffocation of Generation Z
Chairman Powell’s policies have been a heavy burden on many Americans, especially the younger Generation Z, suffocating their aspirations and dreams.
He’s taken his personal animosity toward Donald Trump out on the American people. Even Generation Z, who have been relatively disengaged, are paying attention to Powell’s actions. They, like many others, are struggling to afford loans that burden them for a lifetime, while the bankers continue to amass exorbitant wealth.
It’s Never Too Late.
There’s always a chance to make things right. On Friday, August 22, Jerome Powell gave a speech at the Central Bank annual gathering. Some speculate that this will be Powell’s last keynote speech as Chairman of the Federal Reserve. On Friday, Powell hinted that he would finally make a positive change for the economy and cut interest rates. The news sparked a surge in the stock market, a sign of hope for the future.
Powell’s second four-year term ends in May 2026. In 2018, President Trump nominated someone to head the Federal Reserve. Under President Joe Biden, Powell was sworn in for his second four-year term as the Federal Reserve Chair in May 2022.
The time is now for Trump to make a decisive move-either Powell cuts the rates, or he’s out.
“Think globally, act locally.”
It is crucial to be forward-thinking but not a forward person. “Be kind to everyone you meet because each carries his heavy burden…” Plato.
Embrace the three Constants: change, justice, and rightness.
The thought police are busy at work trying to suppress free speech. If allowed their march to madness, they will arrest your very thoughts.
Free Speech is thy Lord.’
