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Steve Forbes’ blunt warning that “if the Fed doesn’t continue cutting rates, this bull market is headed for the slaughterhouse” should wake every working American who’s seen their retirement accounts climb on the backs of a market that still believes Washington will do the right thing. Forbes made the point plainly on his recent podcast and interviews, arguing that the Fed’s future decisions will decide whether Main Street keeps its gains or watches them evaporate.
Meanwhile Federal Reserve Chair Jerome Powell has been signaling caution, saying the Fed is “not in a hurry” to slash rates and that timing matters for inflation and employment. That hesitance is not some technocratic nuance; it is a live threat to the paper wealth of middle-class families and the confidence that fuels investment and hiring.
Conservative economists and business leaders like Forbes are rightly furious because the central bank’s anti-growth instincts are obvious: too often the Fed prefers to strangle growth with tight money in the name of theoretical targets rather than defend the dollar and the prosperity of Americans. Forbes has repeatedly argued the Fed has the philosophy backward and must prioritize a stable dollar and pro-growth policies instead of needlessly punishing entrepreneurs and savers.
The stakes are not academic. Markets sniff out policy, and if the Fed refuses to act while economic signals wobble, a bear market could rip through portfolios, pensions, and small businesses that depend on credit and confidence. Analysts are already warning that financial conditions have tightened and that stubborn Fed caution could turn a correction into a crisis that hits ordinary Americans hardest.
This is exactly why patriotic conservatives must call out Fed indifference and the political elite who let technocrats dictate outcomes that wreck livelihoods. Steve Forbes’ broader point — that policy should be oriented toward growth and the dollar’s stability, not ideological tinkering — is common sense after decades of experiments that enriched connected insiders while leaving working families behind.
Congress and conservative leaders should demand accountability and push policies that reduce the need for the Fed to play god with interest rates: lower taxes, freer markets, and an honest audit of the central bank’s mandates. If Washington refuses to act, investors will price in the risk and Main Street will pay the bill through lost jobs, frozen wages, and collapsing retirement plans.
The long game is clear: economic freedom and sound money, not bureaucratic overreach, deliver lasting prosperity for families and veterans and small-business owners. We owe it to our neighbors to fight for a Fed that respects growth and to elect leaders who will stop pretending perpetual technocratic control is better than the liberty that created American wealth.
If the Fed keeps dragging its feet, every conservative voter should remember who shrugged while markets teetered and who fought to protect jobs and savings. This is not just about stock tickers; it is about who will stand with hardworking Americans when the next downturn arrives, and who will let the markets go to the slaughterhouse while offering hollow lectures about inflation targets.
