Former House Speaker Kevin McCarthy: I don't like the Fed being politicized

Federal Reserve & Politics - The potential firing of Fed Governor Lisa Cook by President Trump is viewed as a test case, with the legality of the action likely to be decided in court [2][3][4] - There is speculation about whether this action is a prelude to potentially removing Jay Powell as Fed Chair [4][5] - Concerns are raised about the increasing politicization of the Federal Reserve, questioning whether decisions are being made for political purposes [8][9] - The discussion touches upon whether Fed appointees are independent or loyalists to the appointing president, and the potential impact on the Fed's objectivity [10][11][12][13] - Historically, Fed appointments have been based on economic expertise, but there's a shift towards appointing politicians [14][15] Government Investment & China - The government's stake in Intel and potential future investments in other US enterprises are discussed, raising questions about government ownership of businesses [1][18][19][20] - The need for government intervention in areas like rare earth minerals and chip manufacturing to counter China's dominance is highlighted [21][23] - China controls 90% of the minerals and 95% of the processing [23] - The sale of lower power Nvidia and AMD chips to China is debated in the context of competition and potential cold war scenarios [22][24][25][26] TikTok & National Security - The inconsistencies between the approach to TikTok (a perceived national security threat) and the approach to Nvidia and AMD chip sales are noted [27][28][29] - The discussion includes the potential for TikTok's data to be managed by an American entity like Oracle to address security concerns [30][31]