Jerome Powell: America’s Monetary Arsonist in Chief
Powell’s Record of Failure
Stephen Moore is right about one thing: Jerome Powell has been wrong at almost every turn. He called inflation “transitory” while the cost of living exploded. He fiddled with interest rates like a gambler doubling down on a losing hand. He propped up Biden’s lockdowns with trillions of newly minted dollars, vaporizing the purchasing power of the middle class. If Powell were running a private fund, he’d have been fired years ago.
Moore points out that Powell’s economic forecasts have been wildly off base. Case in point: the Fed chair tells investors to expect 1.6% growth, while actual GDP is coming in closer to double that. His crystal ball isn’t just cracked—it’s shattered. Yet the same man still dictates the cost of money for the entire American economy.
The Bigger Problem: The Fed Itself
But here’s where Moore understates the case: Powell isn’t merely a bad Fed chair. He’s the poster boy for the grand illusion that America’s financial destiny can be micromanaged by a handful of unelected technocrats hiding in marble buildings.
Think about it. Under Powell’s watch, inflation gutted real wages, debt exploded past $36 trillion, and Americans found themselves chained tighter than ever to credit cards and overpriced mortgages. And yet Powell, with a straight face, lectures the country about “stability.” Stability? Tell that to the family watching their grocery bill rise by 30% in four years. Tell that to the retiree whose savings account pays less in interest than the government admits inflation is stealing.
Crisis as a Strategy
Moore suggests that Powell should step aside, and maybe he will in seven months. But let’s not fool ourselves. The problem isn’t Powell. It’s the Fed itself. Powell is just the latest in a long line of central bankers who believe they can bend the laws of economics to fit the political needs of Washington. The result is always the same: boom, bust, bailouts, and a bigger bill for you and me.
And here’s the sinister truth: the Fed’s incompetence is no accident. Every crisis expands its power. Every failure forces Americans to rely more on a banking system that bleeds them dry with fees, freezes accounts at the hint of “suspicious activity,” and operates under the watchful eye of federal regulators. Powell and his colleagues are not guardians of stability—they are the wardens of a financial prison.
What Moore Gets Right
Moore ends by calling for a rules-based monetary system. He’s absolutely right. The only honest money is money grounded in reality—tangible assets like gold, silver, and yes, decentralized digital currencies that operate outside the Fed’s grip. Until we decouple our savings from Washington’s printing press, we’ll continue marching down the road to devaluation and eventual collapse.
The lesson here is clear: don’t wait for Powell—or his successor—to fix things. Protect yourself now.
Take Action Before the Next Crisis
Bill Brocius lays out exactly how to do that in his free guide, 7 Steps to Protect Your Account from Bank Failure. Download it now
If you’re serious about navigating the storm ahead, I also urge you to grab Bill’s book, End of Banking As You Know It, and consider joining his Inner Circle for $19.95 a month. That’s where you’ll get the kind of insight Powell will never give you—because unlike Powell, Bill doesn’t work for the empire. He works for people who still want to be free.
