Time for Powell to Go?

We hear constantly about the importance of the independence of the Federal Reserve. Fine: but what if the Fed isn’t independent of politics, it is just independent of, and hostile to, the administration that is in power? Some think that is the situation now before us. Stephen Moore comments on Fed Chairman Jerome Powell’s most recent pronouncements: Fed Chairman Jerome Powell was full of doom and gloom yesterday [Wednesday], forecasting 1.6% growth for this year and closer to 1.5% next year. Was he talking about Afghanistan or the United States? In the second quarter of this year, the U.S. economy...