The former Fed chair warned of administration meddling in accepting the JFK Profile in Courage Award.
as Fed chair last month to warn against the dangers of political meddling, i.e., the thing he had to deal with from Donald Trump on a near-daily basis while running the central bank — and that his successor may soon face if he doesn’t cut interest rates like yesterday.on Sunday night that “like many other institutions, the Fed has been undergoing a stress test,” referring to the pressure and attacks that have come from the White House.
“Congress wisely chose to insulate monetary policy decisions from political pressure,” he added. “All other advanced economy nations have done the same … If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well. The public would lose faith that the central bank will make decisions based only on what’s best for all Americans. The Fed’s credibility would be lost.
That credibility enables the Fed to support a strong and stable economy for the benefit of American families and businesses. ”in March was going to him for safeguarding the Federal Reserve’s independence “despite years of personal attacks and threats from the highest levels of government. ” Jack Schlossberg, a Democraticin introducing Powell on Sunday that “few have done more under more difficult circumstances.
” As a reminder, those attacks included but were not limited to Trump calling Powell “into office renovations, which was absolutely about office renovations and was in no way intended to turn up the pressure on Powell to lower interest rates after personal attacks failed to get the job done. Powell’s remarks can clearly be viewed as a rebuke of Trump but perhaps also a warning to his successor, Kevin Warsh, about not simply rolling over and giving the president whatever he wants.
During his confirmation hearings in April, Warshthat he would not serve as “the president’s human sock puppet” and now he has the chance to prove it. Last week, the Commerce Departmentthat inflation increased the fastest it has in three years in April, thanks to the war in Iran, making things tricky for an avowed non–sock puppet in the face of a president who is on the verge of self-combusting if interest rates aren’t cut ASAP.
While Powell is no longer Fed chair, he’s not going far. After being replaced by Warsh, he chose to keep his seat on the Fed’s Board of Governors, where he will stay — and get to cast a vote — until January 2028. In new renderings, the ballroom looks like a henchmen-filled compound James Bond must infiltrate to thwart Trump’s evil plan. Steyer used his wealth to pry progressives from Becerra as Hilton consolidated the GOP vote.
On Tuesday, we’ll see which two make it to November. Trump’s stupid vanity project died on Friday when a federal judge ordered that his name be removed from the living memorial to JFK. The New Jersey senator has been on the front lines of chaotic protests at the immigrant detention facility — and thinks everyone should join him. , Republicans are racing to lock in their power over the region.
Democrats have a moral and political obligation to fight back. When the midterms cycle started, the Senate looked secure for the GOP. But after many lucky breaks for Democrats, it’s now a toss-up. Five of the nine headliners have now dropped out.
But “Ninja Rap” lovers can rejoice, because Vanilla Ice is definitely still performing. Tom Kean, Jr. has been calling party officials and signaling his imminent return as a report claims he was making stock trades during his absence. Polls show Pratt has made the primary a three-way race. But he’d have a tough time against Karen Bass or Nithya Raman in November.
What happened at her Bahamas wedding? Did she vote Biden? How did her father know Epstein? Here’s a guide to the president’s newest daughter-in-law.
The president is planning to go to a Knicks NBA Finals game, but is he a real fan? Here’s the evidence. The mayor said his new Commission on Government Efficiency — or COGE — will be what Musk’s DOGE “should’ve been. ”Previewing her upcoming book, the former First Lady revealed she thought Joe Biden might have been drugged during his disastrous debate. New York
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