Part 6/11:
Trump expressed a desire for lower interest rates, asserting they would benefit the US economy. Kryton notes that while Trump’s stance may seem consistent with his credit-leaning policies, slashing rates in an uncertain global environment could spark excessive borrowing, asset bubbles, and inflationary pressures. Overall, there's skepticism about whether Powell’s tenure warrants such upheaval, given that his policies aim for economic stability amid global turbulence.
Interestingly, the cost of the Fed’s headquarters renovation is so high that some compared it to the historic Palace of Versailles, underscoring the massive scale and expense involved. Kryton suggests that such expenditure, in the context of inflation and global risk, may warrant closer scrutiny.