Good job, Republican Jerome Powell!

For a very long time, yet without much evidence, I have been suspecting that Jerome Powell, Chair of the Federal Reserve, was playing politics by waiting to lower interest rates when inflation was on its way down, especially considering that 1) He’s of Republican persuasion and 2) We’re on the eve of a Presidential election that the Republicans don’t want to lose. 

As our country could now be tilting into a full-blown recession, my suspicions were confirmed as Powell is now under fire as critics accuse him of playing politics with the economy by maintaining high interest rates despite clear signs, for a long time now, that inflation is waning. 

Economists, Democratic members of congress and various watchdog groups are clearly suggesting that the Fed’s lack of action may be more about influencing the 2024 presidential election than doing what’s good for the US economy.

Back on November 2, 2017, knowing that it’s not good to have a fox in the chicken coop, then President Donald Trump, replaced the Democrat Janet Yellen with the Republican Jerome Powell, to run the Fed. 

Not nearly as smart and wanting to be seen as a “good guy”, Biden announced on November 22. 2021, his intent to nominate Jerome Powell for a second term as Chair of the Federal Reserve. Now, you can understand why Powell has applied his “too little, too late” policy to help as much as he could his fellow Republicans make Biden look bad and lay the blame on him for a lousy economy. 

I only hope that, if elected, Kamala will tell Jeremy to go away and enjoy his retirement benefits!