{"id":60985,"date":"2025-09-22T08:45:13","date_gmt":"2025-09-22T12:45:13","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=60985"},"modified":"2025-09-22T16:22:38","modified_gmt":"2025-09-22T20:22:38","slug":"its-time-for-a-change","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=60985","title":{"rendered":"It’s Time For A Change"},"content":{"rendered":"

Federal Reserve Chairman Jerome Powell’s term expires in May 2026. It’s a shame that he will be in charge until then. He claims to be apolitical, but his actions tell another story.\u00a0On Saturday, John Hinderaker at Power Line Blog<\/a> posted an article about Federal Reserve Chairman Jerome Powell’s term.<\/p>\n

The article reports:<\/p>\n

We hear constantly about the importance of the independence of the Federal Reserve. Fine: but what if the Fed isn\u2019t independent of politics, it is just independent of, and hostile to, the administration that is in power?<\/strong><\/p>\n

Some think that is the situation now before us. Stephen Moore comments on Fed Chairman Jerome Powell\u2019s most recent pronouncements:<\/strong><\/p>\n

Fed Chairman Jerome Powell was full of doom and gloom yesterday [Wednesday], forecasting 1.6% growth for this year and closer to 1.5% next year.<\/strong><\/p>\n

Was he talking about Afghanistan or the United States?<\/strong><\/p>\n

In the second quarter of this year, the U.S. economy grew by 3.3%, and with a few weeks to go in the third quarter, the Federal Reserve Bank of Atlanta is forecasting above 3% growth \u2013 twice Powell\u2019s anemic rate.<\/strong><\/p>\n

…Powell never mentioned that real household incomes are up $1,100 for the first seven months of 2025.<\/strong><\/p>\n

He attacks Trump\u2019s tariffs and more restrictive immigration policies as restricting growth \u2013 and he\u2019s right on that. But he never mentions the Trump tax cut, the immediate expensing for capital purchases (which has spurred an investment boom), the deregulations that could save up to $1 trillion this year, or that Trump\u2019s pro-energy policies have increased U.S. production of oil and gas to record highs, or that the area where job growth is way down is in government employment \u2013 which is GOOD for the economy.<\/strong><\/p>\n

So Powell is hostile to the administration\u2019s economic agenda, and\u2013perhaps\u2013has positioned the Fed in opposition to it.<\/strong><\/p>\n

Stephen Moore notes:<\/p>\n

There\u2019s also something almost comical of a Fed chair who let inflation soar by 21% and promised it was all \u201ctransitory\u201d now terrified of an inflation rate of less than 3% this year.<\/strong><\/p>\n

The article notes:<\/p>\n

Then, of course, there is the Fed\u2019s Taj Majal, construction of which I believe President Trump has stopped. But that is a minor point, compared to the possibility that the Chairman of the Federal Reserve is actively trying to undermine America\u2019s economic policies. That isn\u2019t independence, it is partisanship.<\/strong><\/p>\n

If you are unfamiliar with the history of the Federal Reserve, please watch the video below about the history and purpose of the organization.<\/p>\n