Trump vs. Powell: Who’s Really in Charge of America’s Economy?

Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, Wednesday, May 3, 2023, following the Federal Open Market Committee meeting. (AP Photo/Carolyn Kaster)

Trump’s back in charge, and he’s ready to take the economic bull by the horns. But can he deliver on tariffs and slash inflation without Jerome Powell dragging his feet at the Federal Reserve? That’s the real question, folks.

John H. Cochrane from the Hoover Institution joined me to break it down. Trump’s pushing bold moves—tariffs to fund the government and Elon Musk slashing waste with his Department of Government Efficiency. But here’s the kicker: without a compliant Fed, Trump’s plans could spark inflation, and Jerome Powell might not play ball.

The big question is, can Trump pull this off? Can he tame inflation, deliver on tariffs, and fire Powell if needed—all without putting America’s economy on the brink?

If you’re ready to hear how Trump could rewrite the rulebook, click the link below to catch my full conversation with John H. Cochrane.