OPINION:
Although President Trump nominated Kevin Warsh as the next Federal Reserve chair more than 10 days ago, no Senate confirmation hearing has been scheduled.
What is going on here? Where’s the sense of urgency? As we’re fast approaching $39 trillion in debt — a figure often called a “ticking time bomb” and an “existential threat” — do we really have the luxury of wasting $3 billion per day on unnecessarily high interest on the federal debt?
With Mr. Trump’s vision for the U.S. to have “the lowest interest rates in the world,” that extra $3 billion we’re incurring every day that Jerome Powell stays in office will reach $300 billion by the time his term expires on May 15.
As someone who abhors waste and inefficiency, I find this infuriating. Why does Washington not seem to be as concerned about this as I am?
Mr. Warsh needs to be confirmed ASAP, and lame duck Mr. Powell should be fired the same day. After 11 months of Mr. Trump lambasting Mr. Powell as the village idiot, why is sparing Mr. Powell’s feelings on his way out suddenly a national priority?
If President Trump wants even a Hail Mary’s chance at having his economy — which he would now fully own with Mr. Powell out of the way — hit the incredibly lofty goal of a 100,000-point Dow, he can’t afford to waste even one more day with Mr. Powell.
EUGENE R. DUNN
Glen Burnie, Maryland
Please read our comment policy before commenting.