Jerome Powell Doubles Down On Past Rate Mistakes
By Peter NavarroMarch 19, 2026
In holding rates steady, Jerome Powell—the worst Fed Chair since Arthur Burns—has once again let his anti-Trump animus cloud his judgment. The damage will not show up only on Wall Street.
It will show up in the monthly payment on a starter home, the financing costs of a machine-tool purchase, the builder who delays a project, the manufacturer who shelves an expansion, and the family that watches its credit costs stay painfully high while the Powell Fed congratulates itself for being “disciplined.”
This is not just a spiteful and damaging policy mistake. It is a fundamental misreading of the economy.
Powell continues to act as if inflation is broad-based, demand-driven, and on the verge of reaccelerating. Powell has clearly signaled his intention to remain on the Board of Governors even after his term as Chair expires.
This is nothing more than a Powell extortion expedition for a “plea deal”—having possibly acted above the law, he is trying to evade any possible accountability by conditioning his departure on the Department of Justice dropping its probe of Powell.
Read the article by Peter Navarro
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