SEN TOMMY TUBERVILLE: The Fed Has Gone Rogue — Fire Jerome Powell
Daily Caller7 days
Bessent Calls for Review of Federal Reserve
Above: Scott Bessent during the U.S. National Day ceremony in Osaka, Japan on July 19, 2025. Image copyright: Buddhika Weerashinghe/Bloomberg/Getty Images
The Spin
Republican narrative
The Fed has lost its way and needs a complete overhaul. These academic economists are living in an ivory tower, fear-mongering about tariffs while ignoring the real economic data showing minimal inflation. The $2.5 billion renovation scandal proves Powell can't manage basic operations, let alone monetary policy. It's time for the Fed to start working for the American people.
Democratic narrative
Bessent is obviously making these remarks for an audience of one — Trump. Bessent knows it's unconstitutional for Trump to remove Powell, and there's no mechanism for performing a review of the Fed. Plus, Bessent should be the last person opining on Powell's fate, considering Bessent would be in consideration as Powell's replacement.