It’s not every day a former president’s finance advisor publicly calls out the head of the Federal Reserve. But here we are.
Trump’s finance guru, Stephen Moore, is taking aim at Jerome Powell, the Federal Reserve Chair, in a very public—and very pointed—critique. The reason? Powell’s economic predictions, which Moore claims are consistently wrong and dangerously out of touch with reality.
This isn’t Moore’s first swipe at Powell. But the intensity and timing of his latest remarks suggest a bigger agenda at play.
Moore’s Main Argument: A Fed That’s Lost the Plot
In a recent interview and series of media appearances, Moore accused Powell of being overly pessimistic about inflation, out of sync with market signals, and too slow to adapt monetary policy to real-world conditions.
“He’s been wrong about almost everything,” Moore said. “His predictions have never come true. Yet he continues to steer policy like he’s the oracle of economics.”
Moore’s frustration stems from Powell’s insistence on keeping interest rates high to curb inflation—despite recent data showing inflation cooling faster than expected. Moore argues this approach risks slowing the economy just as it’s finding stable footing.
A Clash of Economic Visions
This latest spat underscores a deeper philosophical divide.
Moore, a longtime advocate of supply-side economics and low taxes, believes Powell’s strategy will strangle growth and hurt working Americans. He contends the Fed is acting like a “central planning committee” rather than a responsive institution.
Powell, on the other hand, has maintained that rates must stay elevated until inflation is firmly under control—even if that means a soft landing takes longer to achieve.
Politics in the Background
Let’s not forget the backdrop: 2024’s election season is heating up, and economic messaging will be central to the campaigns. Moore, who served as an informal advisor to Trump during his presidency, is clearly aligning with the former president’s narrative that the current economic leadership is inept.
This isn’t just about numbers. It’s about control over the country’s economic story—and who gets to tell it.
What This Means for You
Whether you agree with Moore or Powell, this clash matters. Interest rates affect everything from mortgage payments to job creation. A prolonged public feud between key economic voices could increase market volatility and public confusion.
In a time where trust in institutions is fragile, the question isn’t just who’s right. It’s who Americans believe has the credibility to guide the economy forward.
One thing’s certain: this war of words isn’t over.
