Don't Lower Interest Rates, End the Fed Now!

This week, editors Katherine Mangu-Ward, Nick Gillespie, and Matt Welch are joined by reporter Eric Boehm to break down Federal Reserve Chair Jerome Powell’s signals of upcoming interest rate cuts and President Donald Trump’s very public pressure campaign on the Fed. They discuss what a rate cut could mean for jobs, inflation, and investment, how tariffs are distorting basic economic signals, and why the Fed’s growing politicization should worry anyone who values a functional economy.

The conversation then turns to the administration’s new trade deal with the European Union, what it signals for tariffs, reciprocity, and the costs of everyday goods. They also field a question from a libertarian listener about Rahm Emanuel’s appeal as a presidential candidate before examining the FBI’s raid on John Bolton’s home, weighing whether it’s a legitimate investigation into mishandled classified documents, or a case of political retribution.

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Producer: Paul Alexander

Video Editor: Ian Keyser

Illustration: Eddie Marshall