Name: The Lunacy of Lawfare Against the Fed
Uploaded: 2025-07-23T21:41:00Z
Duration: 5 min 3 s
Description: Review & Outlook: Criminalizing a spat over interest rates in an effort to fire Federal Reserve Chairman Jerome Powell is an Argentina-level mistake.

https://www.barrons.com/client

Topics

Memberships

Tools

Customer Service

Network

Newsstand

For Business

For Education

For Advertisers

Account

About Barron's

bolded

unBolded

Marriott International's Anthony Capuano spoke about when he was named chief executive officer of the hotel chain after the death of Marriott's then-CEO and amid the Covid-19 pandemic. "It was, you know, on a personal level, extraordinarily emotional," Capuano said. This interview was recorded on June 2, 2025.

https://m.wsj.net/video/20250731/5e9f8f17-1e0a-407e-a18b-2f479cd6450d/1/hls/manifest-hd-wifi.m3u8

How Marriott's CEO Was Appointed During Significant Challenges

Labor laws need to be updated to address the fact that independent contractors are going to be a growing segment of our society, said Sen. Bill Cassidy (R-La.). This conversation was recorded on July 17, 2025.

https://m.wsj.net/video/20250724/55de25cc-b6ed-4635-97eb-0a0be21ede4e/1/hls/manifest-hd-wifi.m3u8

Sen. Cassidy: New Law Could Help Gig Workers Get Portable Benefits

Sen. Bill Cassidy (R-La.) spoke about the school-choice program that was included in the Big, Beautiful Bill. This conversation was recorded on July 17, 2025.

https://m.wsj.net/video/20250724/19413ca6-b509-4504-b1e0-f38dc5b82d84/1/hls/manifest-hd-wifi.m3u8

Sen. Cassidy on How Lessons From Covid Led to School-Choice Tax Credit

Sen. Bill Cassidy (R-La.) spoke about his joint plan with Sen. Tim Kaine (D-Va.) to help the Social Security program.

https://m.wsj.net/video/20250724/92e4a2c7-bce5-4829-9890-47ddb31596c2/1/hls/manifest-hd-wifi.m3u8

Sen. Bill Cassidy on Social Security, Trump, and RFK Jr.

"We're very happy with the China exposure we have," said Cristiano Amon, CEO of Qualcomm. This conversation was recorded on May 28, 2025.

https://m.wsj.net/video/20250721/c2134287-9949-41a9-9428-7d5702afd208/1/hls/manifest-hd-wifi.m3u8

Qualcomm CEO on China and the Effect of Tariffs

"A lot of investors think about the Qualcomm of the past," said Cristiano Amon, CEO of Qualcomm. This conversation was recorded on May 28, 2025.

https://m.wsj.net/video/20250721/84085bb8-2004-4340-9b14-b0055f3e6c05/1/hls/manifest-hd-wifi.m3u8

Qualcomm CEO Says Investors Need to See the 'Real Qualcomm' of Today

Under CEO Cristiano Amon, semiconductor company Qualcomm is bringing its technology to multiple industries. This conversation was recorded on May 28, 2025.

https://m.wsj.net/video/20250717/f95245f1-1b2d-453e-a058-30d6a835822a/1/hls/manifest-hd-wifi.m3u8

Qualcomm CEO Shares the Company's Disruption Strategy

There is a large demand for authentication as emerging AI softwares are being adopted by more companies, according to Okta CEO Todd McKinnon.

https://m.wsj.net/video/20250721/9bbf2a49-39ab-4b61-ac1d-4cc6978fb349/1/hls/manifest-hd-wifi.m3u8

Okta Is Helping Make AI Tools Like ChatGPT More Personalized

Okta CEO Todd McKinnon is focused on providing choices to customers, not on negativity and threats.

https://m.wsj.net/video/20250721/dcdaaced-b59d-4e16-99e6-eeae78bcceb3/1/hls/manifest-hd-wifi.m3u8

How Does a Cybersecurity Company Measure Success?

At Barron's

Saira Malik, chief investment officer of Nuveen, makes the case for more gains in 2023.

https://m.wsj.net/video/20230925/4d8aa5ee-77aa-4400-884b-1fafeff893ec/1/hls/manifest-hd-wifi.m3u8

S&P 4700?

David Bailin, chief investment officer of Citi Global Wealth, offers his take on the latest IPO activity and what it says about the strength of capital markets.

https://m.wsj.net/video/20230925/5f4d4a28-d83a-40e3-ad94-28bc25b1c3bc/1/hls/manifest-hd-wifi.m3u8

IPOs: Making a Comeback

Chris Harvey, head of equity strategy at Wells Fargo Securities, explains what would make him more bullish on stocks and when he sees a Fed rate cut coming.

https://m.wsj.net/video/20230918/1f534ddf-5da9-4d1d-9926-fda63e90468e/1/hls/manifest-hd-wifi.m3u8

Cuts on the Horizon?

Tom Kennedy, chief investment strategist for J.P. Morgan Global Wealth Management, explains why he thinks concerns around a slowdown in China are overblown.

https://m.wsj.net/video/20230918/09304272-5f0c-49df-892a-3a3d4622c9c3/1/hls/manifest-hd-wifi.m3u8

Evaluating China Risk

Liz Young, head of investment strategy at SoFi, discusses how market moving the August inflation data could be.

https://m.wsj.net/video/20230911/50b8c6b4-8fd3-4d6f-adff-dd0a024a57d7/1/hls/manifest-hd-wifi.m3u8

Inflation in the Spotlight

Lindsey Piegza, chief economist at Stifel, offers her take on the biggest risks to the economy right now.

https://m.wsj.net/video/20230911/cac885e4-b322-40f8-876c-ebd443fe9d29/1/hls/manifest-hd-wifi.m3u8

Assessing Economic Headwinds 

Dan Ives, managing director and senior equity analyst at Wedbush Securities, explains why he thinks Apple will continue to be a market leader.

https://m.wsj.net/video/20230905/1a48f030-5a5a-401c-a571-ec9115a0155e/1/hls/manifest-hd-wifi.m3u8

Prove-me Moment

Ross Mayfield, investment strategy analyst at Baird, highlights bullish catalysts that could drive the market higher between now and year-end.

https://m.wsj.net/video/20230905/729974df-4594-4fc6-a385-5457b1d87e32/1/hls/manifest-hd-wifi.m3u8

Gearing up for a Rally

Matthew Luzzetti, chief U.S. economist at Deutsche Bank, discusses what’s next for the Federal Reserve and the economy.

https://m.wsj.net/video/20230501/7264fcc9-eea9-4d99-b839-4cd4c20500c9/1/hls/manifest-hd-wifi.m3u8

Recession Ahead 

MarketBrief | Clips

MarketBrief Clips

David Bailin of Citi Global Wealth and Saira Malik of Nuveen debate the probability of a recession and discuss where they’re finding opportunities in equities and fixed income.

https://m.wsj.net/video/20230925/a61dd831-40b8-4727-934f-077d2b880711/1/hls/manifest-hd-wifi.m3u8

Investing in a Slowing Economy 

Take stock of your investments in less than 10 minutes with new show from Barron’s and MarketWatch.

Chris Harvey of Wells Fargo Securities explains why he believes the Federal Reserve is done hiking interest rates while J.P. Morgan Global Wealth Management’s Tom Kennedy makes the case for multi-asset investing.

https://m.wsj.net/video/20230918/84e9a4a4-4e50-4b7b-934c-9a532f9803fc/1/hls/manifest-hd-wifi.m3u8

Rate Hikes in the Rearview?

Lindsey Piegza of Stifel discusses the upside risks for inflation while SoFi’s Liz Young explains why she’s cautious on the market through year-end.

https://m.wsj.net/video/20230911/395ecb74-e349-45b0-a6b8-f91b8874aaf8/1/hls/manifest-hd-wifi.m3u8

Pricing Pressure & Frothy Valuations

Baird’s Ross Mayfield makes the case for a better than expected September for stocks while Dan Ives of Wedbush Securities explains why big tech can rally another 15%.

https://m.wsj.net/video/20230905/156bf778-e13d-41ef-b750-55e2ef1c0162/1/hls/manifest-hd-wifi.m3u8

September to Remember? 

Kristen Bitterly of Citi Global Wealth Management explains why the strong start to the year is nothing more than a bear market rally while Eric Winograd of AllianceBernstein offers his outlook for the Fed, inflation, and the labor market.

https://m.wsj.net/video/20230220/ae07e591-f017-4e82-babb-c80144e7d42f/1/hls/manifest-hd-wifi.m3u8

Time to be Skeptical?

Anastasia Amoroso of iCapital explains why she thinks the stock market rally is nearing a ceiling while U.S. Bank Wealth Management’s Lisa Erickson discusses where she’s finding investment opportunities in an uncertain environment.

https://m.wsj.net/video/20230213/61be15a3-f5ac-4a25-b944-edd15e605e30/1/hls/manifest-hd-wifi.m3u8

Hitting a Wall

Jack Manley of J.P. Morgan Asset Management explains why now is the time to leg back into risk assets while BlackRock’s Rick Rieder offers his top fixed income opportunities.

https://m.wsj.net/video/20230206/0be0daa9-d29a-4350-b277-a9ee6ed9a2ea/1/hls/manifest-hd-wifi.m3u8

Two Ways to Play

Amid impressive January gains, Cameron Dawson of New Edge Wealth discusses how she’s positioning her portfolio and Mark Zandi of Moody's Analytics explains why he thinks the economy can still avoid a recession.

https://m.wsj.net/video/20230130/a8c37d62-592b-4830-9466-65c3824205fe/1/hls/manifest-hd-wifi.m3u8

Gauging Upside Potential

Mike Schumacher of Wells Fargo Securities explains why he’s nervous about stagflation while Sylvia Jablonski of Defiance Investments offers her top portfolio picks.

https://m.wsj.net/video/20230123/1e752a76-b7d4-4802-821a-837d6176f979/1/hls/manifest-hd-wifi.m3u8

Wall Street’s Biggest Risk

MarketBrief | Full Episodes

MarketBrief Full Episodes

After 10 straight hikes, the central bank switched gears and opted to keep rates steady. But that doesn't mean the Fed's inflation fight is over.

https://m.wsj.net/video/20230616/9dce6e5c-4c62-4aa6-b432-d3407ac41aea/1/hls/manifest-hd-wifi.m3u8

The Fed's Rate Pause, Explained

A publicly traded company can increase it's number of shares available by splitting its stock. Here's why companies may do it and how it affects investors.

https://m.wsj.net/video/20221115/f37dedad-4403-4f6d-bd22-067d0fb148df/1/hls/manifest-hd-wifi.m3u8

Stock Splits Are Big This Year. Here's What They Mean for Investors.

Here's why a publicly traded company may decide to go private and what it means for its shareholders.

https://m.wsj.net/video/20221025/9fb3fa20-e2ac-485b-aa4d-8fcf3ebd3151/1/hls/manifest-hd-wifi.m3u8

What Happens When a Stock Goes Private?

What Happens When a Public Company Goes Private?

When saving for retirement, there are many different accounts and tax strategies to consider. Here's how to tell if a Roth IRA conversion could be right for you.

https://m.wsj.net/video/20221021/624f992c-db58-4144-93cc-b888c6948059/1/hls/manifest-hd-wifi.m3u8

What to Know About Roth IRA Conversions

As recession fears loom, here are three ways investors can prepare and protect their portfolios.

https://m.wsj.net/video/20221020/5d94fa79-7b6d-4c51-8ac7-8c523c99d487/1/hls/manifest-hd-wifi.m3u8

Preparing Your Portfolio for a Recession

Retiring abroad could lower your cost of living, so you can make your savings go further in your golden years. But a permanent move to a new country could be more complicated than you think. Here's what you should know.

https://m.wsj.net/video/20220823/7a028383-44a0-4957-a070-0018f046ec97/1/hls/manifest-hd-wifi.m3u8

Thinking Of Retiring Abroad? Here's What to Consider.

Billionaire-backed space companies have made space tourism a reality. How to participate in a potential private-sector space boom.

https://m.wsj.net/video/20220818/99bac587-9be5-48e6-9376-48f3bb8d55cf/1/hls/manifest-hd-wifi.m3u8

How To Invest In Space Tourism

When you hear the words 'electric vehicle', you might immediately think 'Tesla'. But as more automakers enter the EV competition, Tesla might have trouble holding its lead. Here's what investors need to know.

https://m.wsj.net/video/20220722/111776c7-d9d2-4cd2-8194-4c58b0cb7e57/1/hls/manifest-hd-wifi.m3u8

Is Tesla Miles Ahead of Others in the Electric Vehicle Race?

Chinese tech company DiDi Global, which runs a ride-sharing app, has announced it plans to delist from the New York Stock Exchange. Investors are watching and waiting to see what other Chinese giants with U.S. listings, like Alibaba and JD.com, will do. Here's what delisting entails.

https://m.wsj.net/video/20220722/eacf026e-7303-4eb7-80ab-3e2344e2b120/1/hls/manifest-hd-wifi.m3u8

What Happens When a Stock Delists?

Barron's Explains

CEO Cristiano Amon has a plan to shrink Qualcomm’s reliance on phones and grow its role in AI, cars, and beyond. Investors are skeptical—should they be?

https://m.wsj.net/video/20241127/99579ccd-a5c1-4acc-ac31-32469f7d8b1c/1/hls/manifest-hd-wifi.m3u8

What's Next for Qualcomm?

On the Barron's Streetwise Podcast, Barron’s senior writer Al Root sits down with Jack Hough to discuss Toyota’s recent success with hybrids, the coolest cars at the New York Auto Show, and what’s ahead for Tesla stock.

https://m.wsj.net/video/20240329/f163bbd7-0cb6-4c6f-b7f9-a85ae5cd2553/1/hls/manifest-hd-wifi.m3u8

Is Electric Vehicle Demand Cooling Off? 

On the Barron’s Streetwise podcast, Rystad Energy’s Alexandre Ramos Peon discusses how U.S. oil producers have boosted profitability and production despite fewer wells.

https://m.wsj.net/video/20240326/0a4b30c7-379c-460f-abc3-838a7f1eb1a9/1/hls/manifest-hd-wifi.m3u8

The Outlook for Oil

On the Barron’s Streetwise Podcast, Jack Hough pushes back against one of Bitcoin’s most popular valuation models.

https://m.wsj.net/video/20240318/b38cc34a-5064-4a6a-a47c-4c855de11973/1/hls/manifest-hd-wifi.m3u8

Bitcoin as 'Digital Gold' 

On the Barron’s Streetwise podcast, Raphael Zagury of Swan Bitcoin shares his bitcoin price model with Associate Editor Jack Hough.

https://m.wsj.net/video/20240312/c0acb0bf-e4e3-46ca-8fd5-13af6fa401e5/1/hls/manifest-hd-wifi.m3u8

The $600,000 Case for Bitcoin

Kathy Jones, Chief Fixed Income Strategist at Schwab, says it might not matter. Plus, the outlook for yields and the national debt.

https://m.wsj.net/video/20240305/0505813c-e38b-47cb-ade2-e7c3aff68dbd/1/hls/manifest-hd-wifi.m3u8

Bond Funds or Individual Bonds?

Brian Niccol on developing new customer favorites, taking menu tips from TikTok, and the outlook for growing the business.

https://m.wsj.net/video/20230725/dec91556-4dbe-49e6-85d9-ed0e8233ac02/1/hls/manifest-hd-wifi.m3u8

Chipotle's CEO on How He Plans to Double the Business. Again.

Jim Farley on competing with Tesla, and why Ford is favoring Level 3 autonomy over full self-driving capability.

https://m.wsj.net/video/20230519/9aa4288a-39a1-4fb8-8b9d-3be0c58adc18/1/hls/manifest-hd-wifi.m3u8

Ford CEO On the Outlook for EVs and Robo Cars

J.P. Morgan Asset Management's David Kelly says inflation is like a rollercoaster: It will come down again.

https://m.wsj.net/video/20230505/5d8d3d70-598d-4ee4-a76e-21381c911e40/1/hls/manifest-hd-wifi.m3u8

Inflation, Attractive Bonds, and Value Abroad

Barron's Streetwise

Stocks are expensive, risks abound, and AI is about to change the world. Other than that, building a calamity-proof retirement portfolio should be a cinch. Tune in as two veteran money managers size up the markets and share their investment ideas.

https://m.wsj.net/video/20250211/17a5e7d6-7c36-44b0-a35e-bf5ac3a24194/1/hls/manifest-hd-wifi.m3u8

Saving for a Sunny Day

Research shows that people greatly underestimate the healthcare costs they’ll face in retirement. Learn from experts how to estimate those costs, prepare for potential long-term care needs, and manage healthcare expenses in retirement.

https://m.wsj.net/video/20250211/e7c022d9-badf-4e95-8e7c-0b6fce9f7823/1/hls/manifest-hd-wifi.m3u8

Are You Fiscally Fit?

Surging power demand, new energy sources, and growing competition have spurred the utility industry to become more innovative than ever before. Our panelists will unpack the changes afoot and explore what lies ahead for companies, customers, and investors.

https://m.wsj.net/video/20240917/001ea098-1fcc-4da5-9f0e-a3b149bbb2fb/1/hls/manifest-hd-wifi.m3u8

Not Your Father's Utility

Modernizing America's grid will take creativity and money -- lots of money. Learn how players across the power sector can achieve their electrification goals and serve new customers without breaking the bank for consumers.

https://m.wsj.net/video/20240917/bd6bd43a-bb07-4b7f-9d1c-6ae04220bea9/1/hls/manifest-hd-wifi.m3u8

Ready for a Revamp?

The launch this year of Bitcoin ETFs has made it easier for investors to buy and trade the cryptocurrency. But is that a wise move, and if so, how much crypto should you own?

https://m.wsj.net/video/20240529/cbb77f15-ef70-445d-85ae-5f02c24ea1ef/1/hls/manifest-hd-wifi.m3u8

Investing in Cryptocurrencies

Bitcoin and other digital currencies reside on software networks that aim to revolutionize everything from finance to art. Barron's talks to industry experts about the outlook for blockchain technology and its potential uses.

https://m.wsj.net/video/20240529/8f60a5ea-6de4-4c3c-b7c2-12b11aaa99f3/1/hls/manifest-hd-wifi.m3u8

Is Crypto Really a Game-Changer?

Persistent inflation means retirement savings don't go as far as they once did. We discuss the best inflation hedges, and how retirees can benefit from higher-for-longer interest rates.

https://m.wsj.net/video/20240429/69577ad6-cbaf-4d34-96f1-c42136e26aa2/1/hls/manifest-hd-wifi.m3u8

Protecting Your Nest Egg from Rising Prices

The impact of inflation is felt unevenly across the economy and markets. Learn which industries, and companies do best in a “sticky” inflation era, and how fixed income, alternative assets, and gold can help investors hedge against further price growth.

https://m.wsj.net/video/20240429/bfee3cb8-715f-4323-929f-43a73fd58877/1/hls/manifest-hd-wifi.m3u8

Don’t Trim Your Inflation Hedges

Science, tech, and better healthcare delivery are helping people live longer and improving quality of life. Two healthcare investment experts tell us about some of the most promising developments in medicine, and the companies behind them.

https://m.wsj.net/video/20240305/33bed2b1-bdef-401f-bb72-18f7a43f2548/1/hls/manifest-hd-wifi.m3u8

Longevity: An Investor's Playbook

Barron's Roundtable

Barron's Advisor The Way Forward

Investing in Tech

Barron's Investing in Tech Clips

A Better Economy & Wealth Gap Events

Wealth Gap

Level Up

Barron's Events

Back to Business

Great Investors

MarketWatch

Video Center - Barron's home

Review & Outlook: Criminalizing a spat over interest rates in an effort to fire Federal Reserve Chairman Jerome Powell is an Argentina-level mistake. Photo: Al Drago/Bloomberg News/Tom Williams/Zuma Press

https://m.wsj.net/video/20250723/ba147783-5a62-4d85-b637-2f7f607d14e7/1/hls/manifest-hd-wifi.m3u8

Review & Outlook: Criminalizing a spat over interest rates in an effort to fire Federal Reserve Chairman Jerome Powell is an Argentina-level mistake.

The Lunacy of Lawfare Against the Fed

It's inconceivable. I know the Fed very well, that they can be spending 2.7 billion to build a building. They don't do anything.

Agitators within the Trump Administration have, for weeks, flogged a Federal Reserve office renovation as a pretext to harass Chairman Jerome Powell. Now comes the lawfare.

This does not make me happy to do. Perjury is a very serious charge.

The complaint in MAGA quarters is that the renovation of several office buildings in the Fed's Washington, D.C. campus is running way over budget. The cost is set a total sum $2.5 billion, up from a 1.9 billion estimate when the refurbishment started. As to the kind of things going into the project, a newly-published video on the Fed's YouTube channel shows blast-resistant windows, reinforced walls, installation of elevators, and a whole bunch of other stuff, all while preserving the building's existing historic features. Unsurprisingly, it's not the first government building project to run over budget, and if you think this cost overrun matters more than most of the federal budget, let's not forget the few decimal points in commerce in the One Big Beautiful Bill Act. Nope, this kerfuffle is pure pretext.

Accordingly, it is my pleasure and my honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations, Jerome.

Since Mr. Powell's appointment, Mr. Trump has found the Fed Chairman to be, shall we say, less pliable than expected.

This guy is a numbskull, he keeps the rates too high.

Mr. Trump wants Mr. Powell to cut interest rates to help the economy despite stubbornly elevated inflation.

I call him too late. He's too late all the time. He should have lowered interest rates many times.

He's also annoyed that the Fed Chief keeps warning that monetary officials must monitor the economic consequences of Mr. Trump's tariffs to make sure they don't become inflationary.

All inflation forecasts for the United States went up materially as a consequence of the tariffs, so we're simply taking some time. As long as the US economy is in solid shape, we think the prudent thing to do is to wait and learn more, and see what those effects might be.

Fortunately, for now, cooler heads have prevailed on Mr. Trump not to fire Mr. Powell in a dispute that's clearly about monetary policy.

He has no plans to fire the Fed chair, but he has been very transparent in expressing his displeasure with Jerome Powell's management of the Fed and also his policies.

Mr. Powell would likely sue if Mr. Trump tried to fire him, and he might well win since the Supreme Court has signaled that its disinclined to extend presidential power that far. But the financial market disruption, should such a case chug its way through the courts, would likely be considerable.

The consequence of firing a Fed Chair, just because political people don't agree with that economic decision, will be to undermine the credibility of the United States going forward.

This is the reason, and the only reason, why Mr. Trump and those close to him are interested in the Fed office building. Some of them think Mr. Powell's putative mismanagement of the building project could provide grounds to fire Mr. Powell for cause.

I wanna get your take on what's caused to fire him.

Well, I don't want to get any specifics, and I would refer you to the White House and to the lawyers. I would say from my perspective, I do believe that there is for cause. But I can say personally that, you know, I've been in construction my whole life. I have never seen a construction site like this one.

Weeks ago, Mr. Pulte called for an investigation into testimony Mr. Powell gave to a Senate banking committee hearing, in which he told Senators some of the more controversial parts of the renovation plan, such as a VIP dining room or rooftop beehives aren't being built, although they were included in the zoning application. Then, on July 21st, Representative Anna Paulina Luna referred Mr. Powell to the Justice Department.

18 U.S. Code 1001 says that anyone who lies to Congress or perjures themself, it comes with an up to $250,000 fine and up to seven years in prison. But ultimately, this has to do with the renovations that Powell greenlit without the authority or oversight.

The Congresswoman is trying to criminalize something that, at its core, is an argument over monetary policy. Mr. Powell's term as Chair ends next May, and it's certain he won't be reappointed.

Good afternoon.

But whatever Mr. Powell's rhetorical inexactitude, it's madness to create a new precedent for prosecuting officials for policy disagreements. Doing so is the road to the hyperpoliticized monetary policy of somewhere like Argentina.

I think he's doing a bad job, but he's gonna be out pretty soon anyway. In eight months, he'll be out.

WSJ Opinion: The Lunacy of Lawfare Against the Fed

Videos that speak for free markets and free people, the principles, if you will, marked in the watershed year of 1776 by Thomas Jefferson's Declaration of Independence and Adam Smith's "Wealth of Nations."  

WSJ Opinion: The Lunacy of Lawfare Against the Fed

Review and Outlook by The Editorial Board

Up Next

At Barron's

View All

MarketBrief Clips

View All

MarketBrief Full Episodes

View All

Barron's Explains

View All

Barron's Streetwise

View All

Barron's Roundtable

View All

Barron's Investing in Tech Clips

View All

Wealth Gap

View All

Level Up

View All

Barron's Events

View All

Back to Business

View All

Great Investors

View All

MarketWatch

View All