in his last Fed meeting, Jerome Powell reiterates his description of tariffs-induced inflation. Fed's Powell Says Inflation Overshoot Caused by Trump 2.0'sTariffs Federal Reserve Chair Jerome Powell said Wednesday that the current overshooting of the central bank's 2% inflation target is mostly the result of President Donald Trump's import tax hikes. "It's really tariffs that are causing the most of the inflation overshoot," Powell said after the latest Fed meeting, reiterating his expectation the tariff impact on inflation is likely to be a "one-time price increase."
Whether Powell is holding back the printer because he wants to stick his finger in Trump's eye or he wants to have a Volcker 2.0 legacy, Trump is still going to appoint a Fed chair this Spring that is going to run it hot AF and then stick his successor with massive inflation bill come 2028.
Powell is nearing the end of his term, having carved out a legacy of sticking the landing, "captain sully"-esque
That may be his legacy 20 years from now, but definitely not today. Trump successfully muddies the waters about everything. His supporters believe Powell has intentionally disrupted Trump's economic grand vision.
There is no such thing as 'landing'. The economy is always in flight. It's only a matter of time until something breaks again and then we get more can kicking like Powell and his predecessors have all done. Its just a never-ending game of hot potato.
Powell could be blowing dollars out of his ass 24/7 and Trump would still b**** and blame him for everything. It's not a matter of if Orange Man throws you under the bus, but when.
on the heels of loosened monetary policies during the shutdown, Russia's unexpected invasion of Ukraine drive wheat/grain prices up, as as well as oil prices. inflation skyrocketed to the low 9%. Powell raised rate once and kept it unchanged for about 12 months, bringing inflation down to the 3-4% range that is sticking the landing
If it wasn't Trump, it'd be somebody else. Money printer must go brrr. If I'm Powell I'm just white knuckling it hoping to god I can retire before a major blowout.
Trump stupidity contines! Trump 2.0's DOJ initiates criminal probe over Chair Jerome Powell testimony "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," Powell said. Powell indicated that the administration’s latest tactic would not lead to his departure from the Fed, which Trump has repeatedly called for. Powell said he would “continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.” The 79-yr old convicted felon said he knew nothing about the Justice Department probe on Powell
Republican Sen. Thom Tillis vows to block Trump’s Fed nominees following Powell probe President Donald Trump will face an important obstacle — from within his own party — as he seeks to replace Federal Reserve Chair Jerome Powell. Sen. Thom Tillis (R-N.C.) said Sunday he will block any Trump appointees to the central bank, including for the new chair, in light of revelations over the weekend that the Justice Department is investigating Powell for potential perjury charges. “If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question,” Tillis said in a statement. “I will oppose the confirmation of any nominee for the Fed — including the upcoming Fed Chair vacancy — until this legal matter is fully resolved,” he added. That position substantially complicates the road to replacing Powell, whose term as chair expires in May. The banking committee, of which Tillis is a member, has 13 Republicans and 11 Democrats, so even one defection sets up a stalemate. Tillis usually supports Trump but occasionally has broken with the president. For instance, he was one of just two GOP senators to vote against the One Big Beautiful Bill spending package last year. Powell’s position isn’t the only one at stake. Stephen Miran’s term as governor ends in January, and there has been chatter about potential retirements, particularly Vice Chair Philip Jefferson. However, news that the office of U.S. Attorney Jeanine Pirro, a Trump confidant and former Fox News host, is investigating Powell for perjury clouds the situation. Powell on Sunday released a statement acknowledging the investigation and alleging it is a pretext for giving Trump power over the Fed. “No one, certainly not the chair of the Federal Reserve, is above the law, but this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell said. Tillis isn’t the only banking panel member to criticize Trump over the move. Sen. Elizabeth Warren (D-Mass.), who once called Powell “a dangerous man” and opposed his reappointment, accused Trump of wanting a “sock puppet” to lead the Fed and do his bidding by lowering interest rates. “Trump is abusing the authorities of the Department of Justice like a wannabe dictator so the Fed serves his interests, along with his billionaire friends. This Committee and the Senate should not move forward with any Trump nominee for the Fed, including Fed Chair,” Warren said in a statement. While Powell’s term as chair ends in May, he can stay on as governor until 2028. He has not indicated yet whether he will do so. The White House has been conducting an extensive search for the new chair, with the candidate field whittled down to five. Trump has indicated he will put forth a nominee this month. https://www.cnbc.com/2026/01/12/rep...umps-fed-nominees-following-powell-probe.html -------------- If Dems ever win again I wanna see criminal probes on all the SC justices that lied during their Sen hearings, especially Uncle Thomas and that assflag backwards Alito who are both corrupt to their core.
here is another reason for Tillis to block the nomination Trump’s Pick for Fed Chair Pops Up in Latest Epstein Files Now Warsh may have to answer questions about how well he knows Epstein and what he was doing on St. Barts during Christmas 2010. Questions will also be raised as to whether Trump chose him because he, Epstein, and Warsh know each other from being in the same circles.
