As warning signs flash across the U.S. economy, pressure is intensifying on Federal Reserve Chair Jerome Powell to reverse course or step aside entirely.
Former National Economic Council Director Larry Kudlow wrote in The New York Sun that Powell’s high interest rate policy is not only damaging growth, but also out of touch with economic reality.
“Why is Jerome Powell clinging to his job?” Kudlow wrote, highlighting the chair’s refusal to pivot despite deteriorating job figures and falling inflation. “Mr. Powell’s tight money is damaging housing, autos, credit cards — you name it.”
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