OPINION:
Kudos to the Trump administration for turning up the pressure on Federal Reserve Chair Jerome Powell to cut interest rates.
At this point in time, Powell has two options: Resign or capitulate to President Trump’s wishes of a radical three-point rate cut. There is no third choice.
By failing to comply with the president’s wishes, Powell is in effect holding the U.S. economy hostage. Almost everyone is holding off on making big purchases, such as a house or car.
But if Powell resigns or capitulates, with this rate cut the economy will explode unlike anything we’ve ever seen before. Never has one man had more of a negative influence on the lives of the American people than Jerome Powell, who seems obsessed with being an obstacle to the greatest period of prosperity in our nation’s history: The Trump golden age.
The good news is that Trump seems super-determined to get his way by any means necessary and isn’t taking no for an answer.
If Powell had an ounce of pride or self-respect, he’d quietly remove himself from office and hand over the reins of the U.S. economy to President Trump, who won an electoral mandate to do just that.
JULIANNA DUNN
Pasadena, Maryland
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