Trumpnomics Wins Again

Former White House trade adviser Peter Navarro is putting Jerome Powell, Chairman of the Federal Reserve, on notice—accusing him of tanking economic growth under President Trump while cozying up to Democrats to keep his job.

In a fiery interview on WABC’s “Cats Roundtable,” Navarro praised the strength of Trumpnomics, calling it the driving force behind the economic boom that lifted millions of Americans out of financial uncertainty—until Powell stepped in.

“When President Trump was building the greatest economy in modern history, Powell started raising interest rates for no good reason,” Navarro said. “He didn’t understand how powerful Trump’s policies were—strong growth without inflation. And it cost this country big time.”

Navarro: Powell Sabotaged Growth, Hurt Retirees and the Middle Class

According to Navarro, Powell’s actions wiped out nearly a million jobs a year—a devastating blow to American families, small businesses, and seniors living on fixed incomes. The lost revenue from slower growth, he says, cost taxpayers billions.

“Powell’s policies under Trump held the economy back. But when Biden came in and started spending like a drunken sailor, Powell kept interest rates low to stay in favor. That’s partisan politics—not sound monetary policy.”

Navarro also slammed Powell for failing to act while Biden and a Democrat-led Congress unleashed trillions in reckless spending, which fueled the worst inflation crisis in over 40 years. Food prices soared. Retirement savings shrank. Mortgage rates spiked.

President Trump: ‘We Should Be Three Points Lower’

President Trump himself didn’t mince words. While he stopped short of saying he’d fire Powell, he made it clear that Powell’s leadership at the Fed has hurt America’s economic standing.

“We should be number one,” Trump said. “But we’re not—because of Powell. Interest rates should be 3 points lower. He’s costing our country a fortune.”

Powell Under Fire from All Sides

Although Powell was originally appointed by Trump in 2017, his term now runs through 2026. But questions about his judgment—and motives—are growing louder by the day.

Even the Biden White House has taken aim at Powell recently, criticizing him for budget mismanagement tied to costly Fed building renovations. But Navarro says the core problem is Powell’s failure to adjust policy despite clear signs that inflation is cooling.

“Rates should already be down by 50 basis points or more,” Navarro added. “The data proves it. Powell just doesn’t get it.”

The Stakes for 2024 and Beyond

With the 2024 election on the horizon, Navarro and other Trump-aligned economists argue that only America First leadership can reverse the damage done by the Fed and the Biden administration.

Millions of conservative voters—especially retirees and working families—are watching closely. The stakes couldn’t be higher.

It’s time for leadership that understands the economy, respects the taxpayer, and puts America first again.