{"id":4051,"date":"2025-04-18T00:17:46","date_gmt":"2025-04-18T00:17:46","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/18\/jerome-powell-talks-fed-independence-and-daily-life-in-rare-interview\/"},"modified":"2025-04-18T00:17:46","modified_gmt":"2025-04-18T00:17:46","slug":"jerome-powell-talks-fed-independence-and-daily-life-in-rare-interview","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/18\/jerome-powell-talks-fed-independence-and-daily-life-in-rare-interview\/","title":{"rendered":"Jerome Powell Talks Fed Independence and Daily Life in Rare Interview"},"content":{"rendered":"
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Jerome Powell smiles as he speaks at the Economic Club of Chicago in Chicago on April 16, 2025. AFP via Getty Images<\/span><\/figcaption><\/figure>\n

What\u2019s it like to run the world\u2019s most influential central bank? In a rare moment of candor at the Economic Club of Chicago yesterday (April 16),\u00a0Federal Reserve Chair Jerome Powell<\/a> gave a glimpse into his daily routine\u2014and addressed the political pressures threatening the Fed\u2019s independence.<\/p>\n

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Powell has served as the 16th chair of the Fed since 2018, steering the institution through a whirlwind of economic crises, from the Covid-19 pandemic to the highest inflation in four decades and tariffs not seen in over a century.<\/p>\n

President Donald Trump<\/a> once described the Fed chair as the \u201cgreatest job in government,\u201d saying, \u201cYou show up to the office once a month and you say, \u2018Let\u2019s see, flip a coin.\u2019 And everybody talks about you like you\u2019re a god.\u201d<\/p>\n

At yesterday\u2019s fireside chat, the interviewer Raghuram Rajan<\/a>, the former head of India\u2019s central bank, asked Powell if the President\u2019s perspective reflects reality. \u201cI would agree, I think it\u2019s the best job in government,\u201d Powell responded, triggering audience laughter.<\/p>\n

\u201cAnd I really do enjoy it,\u201d he went on to elaborate. \u201cI do what everyone expects me to do. We do a little more reading as part of our daily regimen than the typical executive would do.\u201d<\/p>\n

\u201cIn terms of feeling like a god, we are blessed with a large number of aptly compensated critics who kind of tend to undercut that. So we don\u2019t feel like a god,\u201d Powell joked.<\/p>\n

Powell reaffirms the Federal Reserve\u2019s independence<\/h3>\n

The Federal Reserve is an independent government agency that reports to Congress. But President Trump has repeatedly challenged the central bank\u2019s autonomy and threatened to fire Chair Jerome Powell, who has criticized the President\u2019s tariff policy, warning it would increase inflation and hinder economic growth. <\/a>Just today, Trump posted on Truth Social, \u201cTermination could not come fast enough.\u201d<\/p>\n

It remains unclear whether the President has the legal authority to remove Powell. Under current law, the executive branch must provide a non-political justification to prove that the Fed chair is no longer capable of fulfilling the role.<\/p>\n

The Supreme Court is currently deliberating Humphrey\u2019s Executor v. United States, a case that could potentially grant the President broader authority<\/a> to dismiss the heads of independent federal agencies for political reasons.<\/p>\n

Commenting on the case, Powell said, \u201cI don\u2019t think that decision will apply to the Fed, but I don\u2019t know, it\u2019s a situation we are monitoring carefully.\u201d<\/p>\n

He reassured the audience of the central bank\u2019s independence, saying \u201cOur independence is a matter of law. Congress could change that law, and I don\u2019t think there is any danger of that\u2026We will never be influenced by any political pressure.\u201d<\/p>\n

The Fed chair also shared a glimpse of his life outside of drafting monetary policies. When asked what he enjoys beyond work, Powell said, \u201cI play one of my guitars. I do Zoom calls with my kids and my grandkids. And I go to the gym a lot, just to stay healthy.\u201d<\/p>\n

\t\t\t\t\"Jerome<\/p><\/div>\n