HIGHEST level of dissent in Fed decision since 1992

• The Federal Reserve left interest rates unchanged, but the meeting saw three dissents from Reserve Bank presidents (Hammock, Logan, Kashkari) who objected to a perceived "easing bias" in the statement.
• Jerome Powell's decision to stay on the Board of Governors after his term as Chair is criticized as unprecedented and "ungentlemanly," with hosts questioning his motives.
• Powell's tenure is heavily criticized for overseeing the highest inflation rates in 40 years, breaking a 25-year period of 2% or less inflation, and for the Fed's perceived shift towards political agendas like DEI and climate change.
• Calls are made for major reforms at the Federal Reserve, including an audit of the papers produced by Fed economists, to restore its independence and focus on economic fundamentals.

The discussion focuses on the Federal Reserve's recent decision to maintain interest rates, highlighting the highest level of dissent since 1992. Guests criticize Fed Chair Jerome Powell's decision to remain on the Board of Governors and his track record on inflation, accusing the Fed of becoming overly political and deviating from its core mandate by focusing on issues like DEI and climate change.