The world is burning, and so we don’t blame anyone for missing another piece of really bad news. Jerome Powell, the head of the U.S. federal reserve, is being threatened by criminal indictments in connection with recent testimony about an expensive office renovation.
Powell has come right out and said the threats are nothing more than an attempt to put external pressure on the fed to lower the interest rates, which might temporarily goose the economy for Donald Trump heading into the midterms.
In this episode of On The Line, host Jen Gerson sits down with economics professor and founding director of the McGill School of Public Policy Chris Ragan. They get right into the weeds, explaining who Powell is, why he matters, and what economic implications might be of a much less independent fed.
