Fed Chair Powell behaves like an emperor, says Independent Institute's Judy Shelton

Summary

Judy Shelton, former Trump Fed Board nominee and Independent Institute senior fellow, criticizes the Federal Reserve and Chair Jay Powell over accountability, price stability, and the DOJ probe into Powell's renovation statements. She argues the Fed is too powerful and political, questions central bank independence, and raises concerns about the growth of private credit and the inflationary role of deficit spending.

• Judy Shelton discusses Fed accountability and price-stability failures.
• She criticizes Powell's response to the DOJ inquiry as putting himself above the law.
• She defends President Trump's pressure on the Fed as necessary scrutiny.
• She questions whether central bank independence is being used as a shield.
• She raises private credit's explosive growth as a money-supply and financial-stability issue outside Fed oversight.
• She says deficit spending is the real cause of inflation and that the Fed accommodates it.
• No specific investment recommendations or securities are discussed.