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| AI-generated image of hypothetical Fed Chair Jerome Powell being fired. |
What could the Fed Chair's firing mean for the housing market?
If nothing else, we all can agree that President Trump is no stranger to firing folks (harkening back to his TV show, The Apprentice). While it was TV fodder, the stakes are definitely higher since murmurs of "You're fired!" have reached the Federal Reserve, the U.S. institution that has the goal of containing unemployment and inflation (i.e., how much bang we can get for our buck).
Thus, the question that has reached the media zeitgeist is: What would happen if Trump (theoretically) fired Jerome Powell in terms of the housing markets, development, interest rates, etc.?
I think the better question is not simply what would happen if President Trump fired Jerome Powell, but rather: Who would replace Jerome Powell?
Will he be replaced with someone who is aware that we are slowly trending (c.f. recent inflation data) towards stagflation, based on the slow but sure ripple effects in the economy due to tariffs (threats and actual) and the immigration policy impacting an already understaffed housing construction workforce?
As a real estate executive coach and Econ professor (I teach graduate MBA students), of course, I am “nerding out” on the implications of various policies. Our class is full of chatter and graphs, lol! But in order to not bore you with the charts we are plotting in class, to summarize, the fiscal policies of the incoming Fed chair can influence not only the Fed board but the real estate market and ultimately the global economy. Ideally, Powell’s successor (since Powell's term as chair ends in May 2026 regardless of being fired) will be someone who understands the precarious position that both the 2025 tariff and immigration policies have put the US economy in and the key actions to reverse our course towards stagflation (it’s slow but seemingly steady on the path based on the latest reports).
Check out the various other takes and considerations at Yahoo! Finance.
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