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Trump’s Potential Fed Chair Pick Criticizes Powell’s Monetary Policy
Trump’s Potential Fed Chair Pick Criticizes Powell’s Monetary Policy
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Kevin Warsh, a former Federal Reserve governor and ally of Donald Trump, has sharply criticized current Fed Chair Jerome Powell for what he describes as "systematic errors" in macroeconomic policy. Speaking at a Group of 30 event in Washington, D.C., Warsh accused the Fed of overstepping its mandate as an independent central bank, morphing into a "general-purpose agency of government" since the 2008 financial crisis.
Warsh linked Powell’s policies to reckless government spending and inflation overshooting the Fed’s 2% target. "Central bank dominance has become a new feature of American governance," he warned, arguing that the Fed’s expansion into political causes has led to flawed economic management.
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