Federal Reserve Chief Under Fire: Powell Asleep at the Wheel, Costing America Billions – Why the Delay?
Jerome Powell rate cut impact, economic growth potential, Federal Reserve action 2025
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Jerome Powell, the Chairman of the Federal Reserve, has come under fire for his cautious approach to monetary policy. In a tweet, Howard Lutnick, the CEO of Cantor Fitzgerald, criticized Powell for being “asleep at the wheel” and called for a 1% cut in interest rates that he claims could save America $300 billion a year. Lutnick argues that with low inflation and a ready economy, Powell should act now rather than play catch-up.

The tweet, shared by Laura Ingraham, has sparked a debate about the role of the Federal Reserve in shaping the economy. Powell has been known for his gradual approach to interest rate adjustments, citing the need to carefully balance economic growth with inflation concerns. However, critics like Lutnick argue that the time for action is now, especially as the economy continues to show signs of strength.

The call for a rate cut is not new, as President trump has also been vocal about his desire for lower interest rates to stimulate economic growth. However, Powell and the Federal Reserve have maintained their independence and stressed the importance of data-driven decision-making. This has led to tensions between the White house and the central bank, with Trump accusing Powell of hindering economic progress.

In response to the criticism, Powell has reiterated the Fed’s commitment to its dual mandate of promoting maximum employment and stable prices. He has emphasized the need for a gradual approach to monetary policy to avoid destabilizing the economy. Powell has also pointed to the risks of cutting rates too quickly, such as fueling inflation or asset bubbles.

On the other hand, supporters of a rate cut argue that it would provide a much-needed boost to businesses and consumers, potentially spurring investment and spending. They believe that with inflation below the Fed’s target and economic indicators showing strength, now is the opportune time to act. A rate cut could also help to offset the impact of global economic uncertainties and trade tensions.

As the debate continues, all eyes are on the Federal Reserve to see how Powell and his colleagues will respond. The decision to cut rates, if made, could have far-reaching implications for the economy and financial markets. It remains to be seen whether Powell will heed the calls for action or maintain his cautious approach to monetary policy.

In conclusion, the tweet by Howard Lutnick calling for a rate cut by Jerome Powell has reignited the discussion about the Federal Reserve’s role in shaping the economy. While critics argue for immediate action to stimulate growth, Powell has emphasized the importance of a measured approach to monetary policy. The decision on interest rates will have significant implications for the economy, and it remains to be seen how Powell will navigate the competing demands and pressures.

Jerome Powell is asleep at the wheel. If he cut rates by just 1%, America would save $300 billion a year. Inflation is low, the economy is ready—what’s he waiting for? It’s time to do the job, not play catch-up. – @howardlutnick pic.twitter.com/YYVoZPwe5g

— Laura Ingraham (@IngrahamAngle) June 12, 2025

In today’s economic landscape, there is a growing sentiment that Jerome Powell, the current Chair of the Federal Reserve, is not taking the necessary steps to stimulate the economy. According to Howard Lutnick, if Powell were to cut rates by just 1%, America could potentially save a staggering $300 billion annually. So, what exactly is Jerome Powell waiting for?

### Jerome Powell is Asleep at the Wheel

Many critics argue that Powell is “asleep at the wheel” when it comes to navigating the country’s monetary policy. With inflation at a low rate and the economy showing signs of readiness, the time to act is now. The Federal Reserve plays a crucial role in influencing the economy through its decisions on interest rates, and a rate cut could provide the necessary boost to propel economic growth.

### The Benefits of a Rate Cut

A rate cut by the Federal Reserve would have a ripple effect on various sectors of the economy. Lower interest rates would make borrowing cheaper for businesses and individuals, encouraging investment and spending. This increased economic activity could lead to job creation and higher wages, benefiting the overall population. Additionally, lower rates could stimulate the housing market, making homeownership more affordable for many Americans.

### America’s Potential Savings

The assertion that America could save $300 billion a year with a 1% rate cut is not to be taken lightly. This significant amount of savings could be reinvested back into the economy, further fueling growth and prosperity. With the economy in need of a boost, Powell’s reluctance to act is being met with increasing frustration.

### Time to Do the Job, Not Play Catch-Up

As Laura Ingraham aptly puts it, it’s time for Powell to do the job he was appointed to do, rather than playing catch-up with economic policy. The Federal Reserve has a critical role in stabilizing the economy and promoting sustainable growth. By taking proactive measures, Powell can help steer the country towards a path of economic prosperity.

### Conclusion

In conclusion, the calls for Jerome Powell to cut rates by 1% are growing louder as the economy waits for a much-needed stimulus. With inflation low and the economy ready for a boost, the time to act is now. Powell must heed the advice of experts like Howard Lutnick and take decisive action to propel the economy forward. America’s potential savings of $300 billion a year are too significant to ignore, and a rate cut could be the catalyst needed to jumpstart economic growth. Let’s hope that Powell wakes up and steers the economy in the right direction.