Victor Davis Hanson said on Fox Business Tuesday that Federal Reserve Chairman Jerome Powell is showing the “same symptoms” as former Attorney General Merrick Garland.
Amid pressure from Trump, Powell has reportedly told trusted colleagues that he intends to finish his tenure, which concludes in May 2026. During an appearance on “Kudlow,” Hanson said that Powell has shown signs of personal sensitivity and agitation while responding to public criticism, especially from President Donald Trump.
“I think he’s very sensitive. He’s kind of like Merrick Garland. Merrick Garland was broken by the Republicans when they delayed his Supreme Court nomination into nothing, and he never forgave them. And he was sort of an erratic and vindictive attorney general, and Powell is starting to show the same symptoms as Garland,” Hanson told host Larry Kudlow.
Garland was then-President Barack Obama’s Supreme Court nominee in 2016. Then-Senate Majority Leader Mitch McConnell announced he would not consider Garland to replace deceased Supreme Court Justice Antonin Scalia. Republicans said the next president should make the nomination, allowing the American people to influence the Supreme Court’s future.
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Hanson said Powell lacks Trump’s negotiation skills, particularly when it comes to dealing with criticism.
“Well, he doesn’t understand the art of the deal, the way Trump negotiates. So when Trump calls him ‘too late pal’ or he uses ad hominem, he takes personal offense at that, and that’s understandable,” Hanson said. “But he’s got a responsibility to 340 million Americans, maybe 100 million of them are paying mortgages, and that’s a make-or-break deal for them when they’re paying seven and above on a 30-year mortgage.”
Hanson advised Powell to focus on his responsibilities and rise above personal sensitivities to better serve the American people.
Trump has criticized Powell for not lowering interest rates during his presidency and has called for his resignation due to the Fed’s reluctance to make cuts. Additionally, Trump’s allies have suggested the possibility of appointing a “shadow Fed chair” before Powell’s term concludes, according to Axios.
Despite his criticisms, Trump said on “Finnerty” that he would likely avoid removing Powell from his position, as it could cause instability in the market.
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