Powell Probe Just a 'Flex,' Say Senator Tillis
Original Report
Republican Senator Thom Tillis is sticking to his guns and says he won't approve any nominee to lead the Federal Reserve until a Justice Department probe into the Fed’s renovations is over. “We could...
Republican Senator Thom Tillis is sticking to his guns and says he won't approve any nominee to lead the Federal Reserve until a Justice Department probe into the Fed’s renovations is over. “We could have a hearing all we want but until the investigation is done, I still believe that the initial inquiry and the investigation was a flex to try and get the current chair to step aside,” Tillis said on Bloomberg Surveillance. (Source: Bloomberg)
Glass House Analysis
Central bank policy decisions made in boardrooms cascade through the economy in ways that touch everyone. A quarter-point rate change might seem abstract, but it determines whether young families can afford homes, whether businesses can afford to hire, and whether retirees see meaningful returns on their savings. The tension between fighting inflation and maintaining employment represents a fundamental tradeoff in economic policy—one that invariably creates winners and losers.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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