The Case Against Jerome Powell
(DCNF)—It’s hard to believe that a few years ago Time Magazine considered naming Federal Reserve Board chairman Jerome Powell as their Man of the Year. He may well have won, if it hadn’t been for someone named Taylor Swift.
Powell has been idolized by the left for one reason: he’s been a thorn in the side of Donald Trump for years. If Trump says “ying” Powell says “yang.”
Last week Powell finally lowered the federal funds rate and better late than never. But his speech to the media was a tirade against Trumponomics. He was filled with doom and gloom in his statement telling global investors that the economy is growing at only 1.6% so far this year and 1.6% next year.
What country was he talking about? Afghanistan?
Here are the facts: 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 3% growth – twice Powell’s cracked crystal ball.
Powell also never mentioned that real household incomes are up $1,100 for the first seven months of 2025. He never mentioned that capital investment – the seed corn of a growing economy has been ramped up with hundreds of billions pledged next year.
He attacks Trump’s tariffs and more restrictive immigration policies as restricting growth – and he has a point that those have slightly slowed growth. 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’s 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 – which is GOOD for the economy.
There’s also something almost comical about a Fed chair who let inflation soar by 21% during Biden’s four years in office – the highest rates in nearly 40 years dating back to Jimmy Carter’s stagflation. He promised inflation was “transitory” – oops. Tell that to people whose grocery bills rose by one-third in four years.
He accommodated the disastrous lockdowns of the economy with nary a word of objection by shoveling trillions of dollars into the economy in 2020 and 2021. The result: Americans saw a three-year crash in their after-inflation incomes. It was right and proper that Americans chased Biden and Harris out the door, but here we are nine months later, and Powell is still around.
Powell is attacked by Trump as “too late Jerome.” But the reality is he’s “too wrong Powell.” His job, as former World Bank president David Malpass notes, should be “to defend the dollar and keep it stable in value.” Steve Forbes adds that Powell has followed the wrongheaded creed of the 300 Ph.D. economists over at the Fed’s temple that growth causes inflation.
He has a bully pulpit that can and should be used to attack the dangerous levels of government debt and deficit spending. He rarely does.
Powell’s defenders counter any criticism of the Fed by reflexively arguing that the central bank should be independent. Yes.
But it should also be competent and accountable. Under Powell’s reign of error, the central bank has been neither. He makes up monetary policy as he goes along and that has increased the instability of the U.S. economy and financial markets.
He has been a walking billboard for a rules-based monetary policy – perhaps a gold or commodity standard.
Powell should admit he’s in over his head and exit stage left now before he does more harm. But he lives in a media-created delusion that he’s the last line of defense against Trump. The good news is at least he will be gone in seven months. Hopefully the next Fed chairman will learn from his series of blunders.
Stephen Moore is a co-founder of Unleash Prosperity and a former Trump economic advisor. His latest book is “The Trump Economic Miracle.”
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
Preparing for the Unexpected: Your Essential Partner in Health ReadinessIn an increasingly unpredictable world—where supply chain disruptions, natural disasters, and global travel can leave us vulnerable to sudden health challenges—being prepared isn’t just smart; it’s essential.
That’s where Jase Medical steps in, offering innovative solutions that empower individuals and families to take control of their health with emergency medication kits designed for real-life scenarios. As someone who’s always advocated for proactive wellness, I was impressed by how Jase Medical combines expert medical guidance with convenient, customizable options to ensure you’re never caught off guard.
At the heart of their offerings is the Jase Case, a comprehensive emergency antibiotic kit priced at just $289.95. This powerhouse contains five life-saving antibiotics and five vital symptom-relief medications, capable of treating over 50 common infections—from respiratory issues and skin conditions to traveler’s diarrhea and more.
What sets it apart? It’s fully customizable with 28 add-on options, including a specialized KidCase for children ages 2-11, making it ideal for families.
Whether you’re stocking up for home emergencies or preparing for remote adventures, the Jase Case provides peace of mind with medications that boast extended shelf lives—up to five years or longer when stored properly, with studies showing 90% potency retention even after 20 years.
For those on the move, the Jase Go travel med kit at $129.95 is a game-changer. Curated by physicians, it addresses over 30 common travel ailments, from digestive upsets to minor injuries, ensuring explorers, hikers, and globetrotters can handle health hiccups without derailing their plans.
And for targeted concerns, Jase Medical offers specialized kits like the UTI Kit ($99.95), which includes test strips and treatments for urinary tract infections, vaginal candidiasis, and even jock itch, or the Parasites Kit (starting at $199.95), featuring compounded Ivermectin and Mebendazole to combat internal and external parasitic infections.
But Jase Medical isn’t just about one-off kits; their Jase Daily service provides an extended supply of your ongoing prescriptions, supporting hundreds of medications for chronic conditions like diabetes, heart health, high blood pressure, mental health, and more. This ensures long-term preparedness, safeguarding against factory shutdowns or extreme weather that could interrupt your regular supply.
The process couldn’t be simpler or more reassuring. Start by customizing your order online, then benefit from a thorough review by a team of world-class physicians who ensure safety and accuracy. In most cases, prescriptions are issued after a quick consultation—sometimes just a call to clarify allergies or needs—and your kit arrives discreetly at your door. While they don’t accept traditional health insurance, many customers use HSA cards, and refills are available for added convenience.
What truly stands out is the real-world impact. As radio host Glenn Beck puts it, “The supply lines for antibiotics already are stressed to the max. Please have some antibiotics on hand… You can do it through Jase.”
One satisfied customer shared, “It could have been a nightmare. Instead, the best trip we’ve had,” after their kit turned a potential health crisis into a minor blip during a family vacation.
In a time when health uncertainties loom larger than ever, Jase Medical isn’t just selling products—it’s delivering empowerment. Don’t wait for the next disruption; visit Patriot.TV/meds today to build your personalized emergency plan and step into a more secure tomorrow. Your health, and your family’s, deserves nothing less.
