Criticism of Fed Goes Increasingly Mainstream

Plus, Harvard bends hiring freeze for three more Jew-related jobs

Federal Reserve Chairman Jerome Powell.

The Federal Reserve’s oppositional stance to President Trump and the decline of the intellectual diversity that used to characterize its regional banks has been a theme around here for months. See for example (“For Fed Chairman Powell, a Paradox,” April 8, 2025; “The Fed Joins the ‘Resistance,’” April 10, 2025; “Groupthink Sets in at Powell’s Federal Reserve,” April 22, 2025, “The Fed Beyond Bessent,” June 11, 2025, “President Trump Versus Fed Chairman Powell Is a Five-Dimensional Drama,” July 3, 2025; “Instead of Firing Powell, Trump Could Add New Fed Governors,” July 17, 2025, and other pieces).

It’s been something of a lonely campaign. President Trump himself has been vocal about it, and both Maria Bartiromo and Larry Kudlow of Fox Business have been encouraging. Yet I’ve also heard from some readers who don’t quite understand why I’m devoting so much attention to the arcane topic of monetary policy, and from others who think I’m wrong on the substance of it.

The new development is that the criticism of Jerome Powell’s Fed is gradually starting to get more and more high-profile mainstream traction. Here’s what I mean: