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Federal Reserve Chairman Jerome Powell is getting ready to give his final speech at Jackson Hole this Friday. This could be his last chance to show he actually cares about the American people before his term ends next May. Wall Street is waiting to see if he will finally cut interest rates in September.
The big question is whether Powell will cave to pressure from Wall Street elites or stand firm for regular Americans. High interest rates are crushing families trying to buy homes or start small businesses. But cutting rates too fast could bring back the inflation nightmare that already destroyed family budgets under this administration.
Powell has been playing politics instead of focusing on what is best for our country. He kept rates too low for too long, which helped create the worst inflation crisis in 40 years. Now he is being too cautious when American families need relief from sky-high borrowing costs.
Working families are getting hit from both sides right now. They face higher prices at the grocery store and gas pump while also paying more to borrow money for cars and homes. Meanwhile, big banks and wealthy investors are making record profits from these high rates.
The Fed is also expected to change its inflation policy at Jackson Hole. They want to drop their failed “average inflation targeting” that helped cause this mess in the first place. It is about time they admitted this policy was a disaster for American families.
Powell should announce a clear plan to cut rates while keeping inflation under control. Small business owners and young families deserve a chance to achieve the American Dream. The Fed should stop helping Wall Street and start helping Main Street.
This speech will define Powell’s legacy as Fed Chairman. He can either be remembered as someone who put politics first or as someone who fought for regular Americans. The choice is his, but time is running out.
American families are watching and waiting for real leadership from the Federal Reserve. They deserve better than empty promises and political games. Let’s hope Powell finally does the right thing for the country that made him successful.
