End the Fed!!! Put it back under the US Treasury.
For the record.
The question at hand is not whether the Fed will cut rates in September, nor is it about parsing every word Powell uttered today. The fundamental issue is the viability of the Federal Reserve’s role within a truly capitalist society, now that its overreach has become apparent. The sustainability of the Fed’s authority will be increasingly questioned as it acts as though we operate under a centrally planned economy, an assertion that strains the very principles of free markets. The claim that the Fed is apolitical is now widely regarded as folly.
Powell’s stark performance at the University of Chicago in April marked a pivotal moment, the crossing of a Rubicon. In that instance, Powell comported himself as an economic emperor, displaying a disdain for Trump’s policies and supply-side economics that was palpable. His implicit message was clear: the Fed would stand in the way of the President’s agenda, dismissing the constraints and provisions of the Humphrey-Hawkins Act as mere formalities. One must ask: Is Powell and the Fed above the U.S. Constitution?
It is undeniable, the Fed has overplayed its hand. The world now sees what the Fed truly is and what its officials, past and present, stand for. The era of the Fed’s untouchability is definitively over. This is the true line of demarcation. While pundits debate the nuances of Powell’s rhetoric on the labor market or analyze the subtleties of his language, or what the dot plots say, the real story is much more profound. The post-1951 incarnation of the Federal Reserve, which has wielded extraordinary influence for over seven decades, is approaching its end.
Powell’s concerns about his legacy are understandable, but history will judge that he ultimately overstepped. His actions have accelerated the demise of the post-World War II central banking era, signaling a fundamental shift in the relationship between monetary authority and democratic governance. Yes we are in the mist of developing Bretton Woods 2.0 and the Fed’s role is yet to be defined.
The epoch of the Fed’s presumed omnipotence is drawing to a close, and with it, the myth of an unelected institution wielding unchecked power in a free society. Welcome to the 4th Turning.
The society, much like in The Wizard of Oz, has seen behind the curtain. The illusion of control and omniscience has been shattered.
No more books need to be written.
Expectation: $50 billion deficit 
June wholesale prices: 0% inflation
BREAKING: Trump Federal Housing Director Bill Pulte ACCUSES Jerome Powell of massive FRAUD and demands he resign immediately, following their tour of the $2.5B Fed renovations.
