'Jerome Powell Is The Gaslighter-In-Chief': Analyst Slams Fed Chief For 'Reckless' Money Printing Amid Ballooning National Debt

Financial analyst Gordon Johnson has voiced strong criticism towards Federal Reserve Chairman Jerome Powell, referring to him as the “gaslighter-in-chief” in relation to the growing national debt.

What Happened: During CNBC’s “Last Call” on Monday, Johnson expressed concerns over the unprecedented fiscal deficit, drawing parallels to the financial strains experienced during World War II. The critique comes amid discussions on the economic direction under Powell’s leadership.

"Jerome Powell is the gaslighter-in-chief," he said, explaining how the Federal Reserve has been unable to control the fiscal deficit despite the economic indicators showing a “peace-time economy” with 5.9% nominal GDP growth.

“Despite those facts, we are running a fiscal deficit the likes of which we haven’t seen since World War II.”

Johnson warned that the “reckless” printing of money by the Federal Reserve is causing debt and allowing Congress to spend recklessly. This is, in turn, causing inflation in the population.

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Why It Matters: The Federal Reserve, under Powell’s guidance, has signaled potential rate cuts within the year, despite the uncertain economic outlook. This decision, as reported on Mar. 20, could have significant implications for the market, with the S&P 500 reaching all-time highs following the announcement. These moves are made on a meeting-by-meeting basis, reflecting a responsive approach to the evolving economic landscape.

However, Powell’s stance on interest rates has been cautious, suggesting that the Fed is not in a rush to implement cuts, despite the prediction market’s increased odds for a reduction in June. This was reported following the personal consumption expenditures report, which indicated a rise in inflation in February.

Adding to the discourse, “Rich Dad Poor Dad” author Robert Kiyosaki recently expressed a bleak outlook, stating “We’re F’d,” in response to Powell’s admission that inflation is gaining ground. This sentiment echoes Johnson’s concerns about the national debt and fiscal deficit.

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