LARRY KUDLOW: Don't Make a Martyr Out of Jay Powell

分组1 - The article critiques Jay Powell's tenure as Fed chairman, highlighting his failure to meet inflation targets and suggesting his actions were politically motivated [1][2][3] - There are allegations of insider trading and ethical breaches among other Fed officials, but Powell is not directly implicated in criminal activities [2][3] - The article notes that Republican senators will not confirm a new Fed chairman until existing subpoenas are resolved, indicating a political stalemate [4] 分组2 - Despite the controversies surrounding the Fed, the market reaction has been muted, with the 10-year Treasury auction performing well and major indices like the S&P and Dow reaching all-time highs [5] - The economy is reported to be growing at rates of 5% or better, potentially reaching 6% or 7% due to tax cuts and deregulation, alongside significant productivity growth of over 4% [6] - The article emphasizes that the U.S. economy is currently experiencing a positive oil shock, contributing to its status as the hottest economy globally [7]