The Federal Reserve is out of control…
At a recent press conference, Fed chairman Jerome Powell boldly claimed that he couldn’t be fired—even if President Trump demanded it.
His arrogance isn’t just shocking… it’s endemic of the arrogance and elitism of the bureaucracies and the deep state… And it’s dangerous.
Powell’s actions and the Fed’s unchecked power are hurting hardworking Americans and prop up failed economic policies, including inflation and high interest rates.
Here are 5 critical things you need to know about why Powell should be removed:
- Powell Should Be Fired
Although President Trump appointed Powell as Fed chair in 2018, Biden reappointed him for another term ending in 2026.
During a recent press conference, Jerome Powell’s defiant response saying he would not step down if asked by Trump made one thing clear: Powell believes he is untouchable.
Powell’s arrogance should raise alarms. A pampered deep-state bureaucrat with socialist economic beliefs, Powell sees his role as untouchable.
- Trump Should Fire Him
Powell’s claims of his immunity from being fired are questionable…
During Trump’s first term, Trump had threatened to fire Powell on several occasions but never followed through.
Alan Blinder, a proponent of so-called “Fed independence,” acknowledges that legal ambiguity exists over what constitutes sufficient cause for removal.
While Powell insists his position is protected by law, Trump could challenge this in the Supreme Court.
This is not about personalities or disagreements but about accountability to the American people.
- Powell Refuses to Resign
Powell’s refusal to step down signals a dangerous precedent. Washington bureaucrats like Powell often act as if their positions are immune to oversight or repercussions.
Yet Powell’s bad Fed policies have had real consequences for families, businesses, and the economy. Powell’s defiance highlights the need to reassess the Federal Reserve’s unchecked power and its leadership.
Referring to the Fed’s bad policies, Trump said:
“I feel the president should have some kind of say about interest rates… at least a say. I believe that strongly. I made a lot of money. I was very successful. And I think I have a better instinct than, in many cases, people on the Federal Reserve… or the chairman. A president certainly can be talking about interest rates, because I think I have very good instincts. That doesn’t mean I’m calling the shots, but it does mean that I should have a right to be able to talk about it like everybody else. I have the right to say I think you should go up and down a little bit. I don’t think I should be allowed to order it, but I think I have a right to put in comments as to whether or not interest rates should go up or down.”
- Congress Can Fire Powell
While Trump’s authority to fire Powell may face legal challenges, Congress has no such challenges. Congress created the Fed with the Federal Reserve Act of 1913, and they can remove Powell by a simple majority vote or abolish it completely.
Abolishing the Fed would restore power to the people and end Congress’s “blank check” to spend money.
I’ve spoken and written about alternatives to the bloated and partisan Fed for years.
At the very least, Congress must send a clear message– the Fed chairman is not above Congressional oversight.
Congress has the power to rein in the Federal Reserve.
First, Congress should prohibit the Fed from buying assets like mortgage-backed securities and government bonds, a practice that props up Wall Street investment firms and investment bankers—making them richer and average Americans poorer.
Second, Congress should scrap the Fed’s “dual mandate.” By prioritizing job growth, the Fed inflates the money supply, driving up prices and hurting hardworking Americans.
Their focus should be on stabilizing the economy, not creating and implementing radical socialist Modern Economic Theory policies.
Finally, Congress should remove the Fed’s power to manipulate interest rates, ending its ability to pick economic winners and losers.
Let the free market dictate interest rates, not bureaucrats.
- The Fed Is a Swamp of Ideological Bureaucrats
“Fed independence” is a myth. Historically, the Fed has served the interests of Democrats in the White House (91% of Fed bureaucrats donated to Harris’ campaign) and the banking elite.
In fact, in the 1930s, the Comptroller of the Currency and the Secretary of the Treasury sat on the Fed’s Board, giving the Fed direct access to the White House.
Even today, the Fed helps the Treasury Department with funding by essentially printing money.
From financing government deficits to enabling reckless spending, the Fed has been anything but restrained in its policies. It was often in conflict with Republican-controlled Congresses and Republican Presidents like Reagan and Trump.
To help the Democrats in 2024, the Fed lowered interest rates twice just before the election.
Jerome Powell and the Fed bureaucrats only care about protecting the banking cartel and their own power… They care nothing about the American people… or the country.
Congress must act now to dismantle this swamp of technocrats before they inflict more damage on the economy.
Jerome Powell’s arrogance is exactly why the Federal Reserve must be held accountable.
It’s time for Congress to act.
That’s why it’s up to President Trump.
He’s the only leader bold enough to push Congress to take on Powell, challenge the status quo, and restore accountability to the Federal Reserve, with the eventual goal of abolishing it.
Let me know what you think. Email me at [email protected].
Action Steps:
1) Pray for our country.
2) Order my new book, The Great Deception: 10 Shocking Dangers and the Blueprint for Rescuing the American Dream
Chapter 3: Danger #2: The Growing Economic Crisis: 7 Misunderstood Problems That Are Crippling Our Economy delves into the heart of the economic storm that threatens the very foundation of the American Dream.
Chapter 3 exposes the seven misunderstood problems crippling our economy, a searing exploration of the perilous path we tread due to economic mismanagement by radical ideological socialist politicians and bureaucrats.
Unchecked government spending is pushing the nation to the brink of economic collapse. The looming specter of inflation, deficits, and soaring debt threatens to shatter the stability we once took for granted. The radical socialists, in their pursuit of misguided policies, are inadvertently devaluing the very currency that forms the backbone of our economic strength.
The Great Deception: 10 Shocking Dangers and the Blueprint for Rescuing the American Dream exposes lies, myths, and distortions from the media and politicians.
It gives you answers and solutions to turning America around…
It allows you to share these dangers and a solution to cutting through the deception with friends and family.
It exposes under-the-radar and little-known behind-the-scenes reasons America is falling backward and how to make it move again.
Click here to get The Great Deception – Craig Huey
You can order the book on Amazon HERE.
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