Video transcript
Chairman of the Board of Fannie Mae and Freddie Mac, he piled on to the Trump vs. Powell feud. Listen to this. He issued a statement today saying, "I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America and the economy will boom." I'm not sure exactly what he's referring to. Maybe it's wishful thinking on the – I mean, you've got to believe Powell's thought about it, how seriously he thinks about it. You know, obviously a lot of investors are going to say, "This is making them nervous about Fed independence." What do you think when you hear a comment like that from Pulte? Well, I think that that's probably the job of comment – like people like Pulte and even President Trump. That's their job to commentate. I mean, that's why they have the big pulpit that they use. However, what we do know about Jerome Powell is he has two jobs. And that is two – well, three jobs. One is to not be political, two is to make sure we're fully employed, and three is to make sure we have a stable dollar. You saw the numbers today in the dollar index. The dollar looks strong in the face of tariffs. You see the jobs numbers every single month so far. They look good. They look promising. So what more are you saying? I mean, you keep saying, "Hey, tariffs are – we're waiting to see what it looks like." Well, you're basically being political that way, commentating on the policy of the commander in chief, saying, "We're not going to do something because of your policies," even though he did what Trump wants for Biden and Harris back during a campaign season. So I think that there is some politics going on there at the Fed. And I'll just say this again, you know, just real quick. Think about the job as to that 2 percent target. Well, Powell has been within 10 percent of that 2 percent inflation target three times out of the last 76 months that he's been in office. Tim, I've got like – You've got a question. We've got like 10 seconds with you but really quick. Russ Vode again coming out today, you know, office of, you know, management budget director. He says he wants to investigate the renovation at the Federal Reserve, $2.5 billion massive cost overrun. He wants the facts. How serious do you take this? Let's go. I mean, this is what Doge was all about. Bring it on. Let's question it. If they need another building, maybe they can take the FBI's old building or some other building in D.C. that's empty. There's plenty of them. Yeah. Two and a half is a lot. That would be a couple of football stadiums and nice ones with good concourse and so forth. Anyway, thanks, Tim. Appreciate you joining us. A lot of options. See you guys. Have a great weekend. You too.
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