I joined CNN on April 29 to discuss Fed Chair Jerome Powell’s announcement that he plans to stay at the Fed in a lesser role after his term expires on May 15, rather than give Trump an open policymaking seat to fill with a loyalist.
TL;DW: It’s good for markets. Powell is better than whatever stooge Trump would try to install. Trump will not gain control of the Fed, thank goodness. Meanwhile, the Fed may not cut interest rates at all this year, largely because of Trump himself. His foolish tariffs and his war with Iran have triggered another bout of inflation, raising the odds that the Fed will RAISE interest rates instead of cutting them.
Here’s the video: