America
Why the Fed Hates Republicans
W
Its commitment to fighting inflation vs. expanding economy depends on who’s in White House. BY DAVID A. PATTEN
hen president donald trump’s motor- cade pulled up to the Federal Reserve’s head- quarters on Constitution Avenue in late July, it marked the first presidential visit to the
central bank in nearly two decades. No ticker-tape parade awaited him, however. Through- out Trump’s visit, Fed Chair Jerome Powell looked like he’d
rather be just about anyplace else. The highlight of Trump’s hard-hat tour was his takedown of Powell over something the banking chief should understand pretty well by now — money. “It looks like it’s about $3.1 billion,” Trump remarked, commenting on the stunning cost of the Fed’s building renovation. “I’m not aware of that,” Powell interjected. “Yes, it just came out,” Trump informed the Fed head.
Trump reached into his jacket to hand an update to the man he’d branded a “real dummy” for keeping interest rates high despite a flourishing economy. Although Powell seems eager to look apolitical, Repub-
licans see an obvious inconsistency. They suspect his com- mitment to fighting inflation versus expanding the economy fluctuates depending on who occupies the White House. Consider that between November 2016 — when Trump
PRESSURE White House press secretary Karoline Leavitt holds up a handwritten note in June from President Donald Trump telling Federal Reserve Chair Jerome Powell, left, ‘’As usual you’re too late” in cutting interest rates. In July, Powell gave the president a tour of the central bank’s headquarters, but still refused to lower rates.
Trump Ousts Bureau of Labor Statistics Chief W
BY MARK SWANSON
hite House economic adviser Kevin
Hassett justified President Donald Trump firing the Bureau of Labor Statistics commissioner, saying the jobs data reporting out of the agency had become “very unreliable.” “What we need is a
fresh set of eyes over the BLS,” Hassett, the director of the National Economic Council, told NBC News’ Meet the Press. Trump ordered the
removal of BLS chief 18 NEWSMAX | SEPTEMBER 2025
Erika McEntarfer, a Biden appointee, on Aug. 1 over the jobs numbers report that came out that day because “we didn’t believe the numbers,” he told Newsmax TV’s Rob Finnerty, adding she was “very suspect.” He later wrote in a Truth
Social post that McEntarfer was responsible for the “biggest miscalculations in over 50 years.” Hassett said that “the
president is right to call for new leadership.” “If the data aren’t that
good, then it’s a real problem
for the U.S. And right now the data are — have become very unreliable with these massive revisions over the last few years,” he said. “There have been a bunch of patterns that could make people wonder. And I think the most important thing for people to know is that it’s the president’s highest priority that the data be trusted, and that people get to the bottom of why these revisions are so
unreliable,” Hassett said, adding that July’s revision from McEntarfer was the “biggest since 1968.” “The president wants his
own people there so that when we see the numbers, they’re more transparent and more reliable. And if there are big changes and big revisions — we expect more big revisions for the jobs data in September, for example — then we want to know why, we want people to explain it to us,” Hassett added.
MCENTARFER
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