Staff Reports
Federal Reserve Chair Jerome Powell defied mounting pressure from President Donald Trump by holding interest rates steady at 3.5% to 3.75% during the latest Federal Open Market Committee meeting. This 10-2 decision came amid Trump’s vocal demands for aggressive rate cuts to supercharge the economy, highlighting a deepening clash between the White House and the central bank. Powell’s firm stance underscores the Fed’s insistence on operating free from political influence, even as the president argues higher rates are strangling growth and national security.
Two Trump-appointed governors, Stephen Miran and Christopher Waller, broke ranks by dissenting in favor of a quarter-point cut, exposing fractures even among allies on the Fed board. Trump has blasted Powell as a “moron” costing America billions in unnecessary interest expenses, especially with tariffs bringing in massive revenue that could support the lowest rates globally. This internal rebellion signals that Trump’s economic vision—prioritizing rapid relief for businesses and families—resonates more broadly than the Fed’s cautious approach allows.
Higher rates continue squeezing everyday Americans with pricier mortgages, car loans, and business credit, while Wall Street elites ride high on S&P 500 records above 7,000. Powell claims independence safeguards the economy, but critics see it as unelected bureaucrats prioritizing their power over elected leadership’s mandate to deliver prosperity. Trump’s push exposes how the Fed’s insulation from accountability lets it ignore the real-world pain of working families battling inflation’s lingering bite.
Meanwhile, the Department of Energy awarded $2.7 billion in contracts to companies like American Centrifuge Operating, General Matter, and Orano Federal Services to ramp up domestic uranium enrichment for low-enriched and high-assay needs. America gulps 50 million pounds of uranium yearly but produces under 5%, leaving us vulnerable to foreign suppliers who don’t share our interests. This smart move toward energy independence aligns perfectly with Trump’s America First agenda, securing nuclear fuel supplies as demand surges for reliable power.
Powell’s resistance smacks of entrenchment by a lame-duck chair facing a criminal probe over his testimony and eyeing an imminent Trump successor. The president rightly demands that monetary policy serve the people, not thwart growth through outdated caution. As Trump prepares to reshape the Fed, this standoff reminds us why voters chose bold change—because timid bureaucrats won’t deliver the roaring economy Americans deserve.
