His excuse is tariff inflation — which is nonexistent. It turns out “independence” ends where Trump begins.
Fed members are going rogue as “Very Dumb” Jerome Powell refuses to cut despite 1% inflation.
Breaking 112 years of Fed precedent.
His excuse is tariff inflation — which is nonexistent.
It turns out “independence” ends where Trump begins. pic.twitter.com/ZxJxpFM2ca
— Peter St Onge, Ph.D. (@profstonge) July 1, 2025
Bessent on possibly replacing Powell as Fed Chair: “I’ll do what the President wants”
Bessent on possibly replacing Powell as Fed Chair: “I’ll do what the President wants” pic.twitter.com/i4CzqKNn6G
— OSZ (@OpenSourceZone) June 27, 2025
Bessent’s deference to presidential authority is the right approach—Powell’s legacy of money-printing fueled inflation that crushed working Americans. The Fed needs leadership aligned with Trump’s America First agenda, not career bureaucrats who enabled reckless spending. Powell’s tenure saw real wages stagnate while DC insiders profited from cheap debt. Time for a Fed chair who prioritizes sound money, fiscal discipline, and dismantling the bureaucratic machinery that inflated away your savings. Trump’s pick will reset monetary policy to serve Main Street, not Wall Street.
- Bessent is proven and excellent in any role. Thank him every time you open your investments and see green. Leftoids hate him because he wouldn’t deliver their Great Depression tariff cannibal apocalypse.
- Turns out President Trump plans to throw out Jerome Powell along with the entire Federal Reserve. Feel free to take your portion of that 37 trillion debt with you, Jerome.
End the FED! Jekyll Island, the Federal Reserve Banksters and the IRS in 1 minute.
End the FED!
Jekyll Island, the Federal Reserve Banksters and the IRS in 1 minute. pic.twitter.com/xkC6UVzlYJ
— Donna Marie (@sabback) June 30, 2025
More on the Fed from both sides
- Inflation Through Money Supply Expansion
- Criticism: The Fed’s ability to create money by expanding the money supply (e.g., through quantitative easing or lowering interest rates) is seen as a primary driver of inflation, which erodes the dollar’s purchasing power. Since the Fed’s creation in 1913, the dollar has lost over 95% of its value relative to goods and services. For example, $1 in 1913 is worth about $0.03 today, based on CPI data. Critics argue this is due to excessive money printing, particularly during crises like the 2008 financial meltdown or post-2020 pandemic stimulus, which flooded the economy with dollars, devaluing each one.
- Counterargument: The Fed argues that controlled inflation (around 2% annually) is necessary to stimulate economic growth and avoid deflation, which can cripple economies by discouraging spending and investment. Without Fed intervention, economic downturns could be more severe.
- Debt Monetization and Fiscal Irresponsibility
- Criticism: The Fed enables government overspending by purchasing Treasury bonds (monetizing debt), which allows the government to borrow more without immediate consequences. This increases the money supply, further devaluing the dollar. Critics point to the U.S. national debt, now over $35 trillion (as of mid-2025), as evidence that the Fed’s actions encourage fiscal recklessness, indirectly taxing citizens through inflation.
- Counterargument: The Fed’s bond purchases stabilize financial markets and keep borrowing costs low, which supports government programs and economic recovery during crises. Without this, interest rates could spike, choking economic growth.
- Artificially Low Interest Rates
- Criticism: By keeping interest rates near zero for extended periods (e.g., 2008–2015, 2020–2022), the Fed discourages saving and encourages speculative bubbles in assets like stocks, real estate, or cryptocurrencies. This misallocates capital and fuels inequality, as wealth concentrates among asset holders while savers lose out to inflation. The dollar’s value erodes as low rates incentivize borrowing and spending over saving.
- Counterargument: Low rates stimulate borrowing for investment and consumption, driving economic growth. The Fed adjusts rates based on economic conditions, and higher rates could harm small businesses and consumers reliant on credit.
- Lack of Accountability and Transparency
- Criticism: The Fed operates with significant autonomy, with critics arguing it’s a private entity masquerading as a public institution, controlled by banking interests. Its opaque decision-making (e.g., closed-door FOMC meetings) and lack of direct democratic oversight fuel distrust. Some claim it prioritizes Wall Street over Main Street, devaluing the dollar to prop up financial markets.
- Counterargument: The Fed is a hybrid institution, with public appointees and private bank input, designed to insulate monetary policy from short-term political pressures. It’s audited regularly, and its actions are scrutinized by Congress and the public.
- Historical Context and Philosophical Objections
- Criticism: Critics like Ron Paul or Austrian School economists argue the Fed’s centralized control over money supply violates free-market principles. They point to pre-Fed eras when gold-backed currencies limited inflation, preserving the dollar’s value. The abandonment of the gold standard (fully in 1971) allowed the Fed to print fiat money without restraint, leading to persistent dollar devaluation. Some see this as a deliberate transfer of wealth from the public to elites via inflation.
- Counterargument: The gold standard constrained economic flexibility, exacerbating depressions like the 1890s and 1930s. Fiat money allows the Fed to respond to modern economic complexities, stabilizing growth and preventing catastrophic downturns.
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