Fed chair Jerome Powell is in Jackson Hole to deliver his last speech there. He’ll speak Friday morning on “Economic Outlook and Framework Review.” His term ends in the spring.
President Trump has publicly pressured him to resign and to cut rates. The tensions between them are palpable. The President has called for the resignation of Governor Lisa Cook as well. Markets currently expect a 25 basis point rate cut next month. July jobs data was weak (arguing for a cut) but inflation has been above target (making cuts risky).
Friday’s speech isn’t just about September – it’s a discussion of the Fed’s monetary policy framework for the next five years. It could disrupt financial markets – and every word counts.
So here’s my unpopular take: the Chairman of the Federal Reserve should not be flying United Airlines. If he flew from the Fed offices in D.C. he presumably connected in Denver, even (United has a Newark non-stop). Get the man a jet. He and his money printer have the best memes.
This picture was taken a few hours ago by a friend of mine at the airport in Jackson Hole.
This guy's had a rough day! pic.twitter.com/veSeqnr0Es— Michael A. Blum (@mablum) August 21, 2025
It’s government travel, and that’s often in coach, but Secretary of Transportation can fly private. The FAA has its own fleet of aircraft and its own Flight Program Operations unit to operate them.
- 3 Challenger 601-3Rs
- 6 Challenger 605s
- 8 King Air C90s
- 17 King Air B300s
They’ve removed their Bombardier Global 5000, Challenger 604, and Citation Sovereign+ from the fleet over roughly the past year. Biden DOT Secretary Pete Buttigieg flew on FAA aircraft at least 30 times.
Former Fed Chair Janet Yellin continued flying commercial as Treasury Secretary but this is dumb. Here she is relegated to row 19 on Delta, without enough space to work. And she ‘shows up hours early’ for flights rather than the plane leaving when she arrives.
SPOTTED: Treasury Secretary Janet Yellen – 19th row, briefing materials in hand – en route to Michigan for an economic speech today in Dearborn at the @Ford Rogue Electric Vehicle Center pic.twitter.com/ZX6ARUXPCh
— Kristin Brown (@kristincbrown) September 8, 2022
Coach travel for the Fed chair and Treasury Secretary is performative. You don’t want their time wasted or the added stress of commercial distracting them from doing the best job possible. You don’t want them more tired than necessary when every word moves markets. Here Powell flies in the morning before his speech.
Now, the last drug czar lost his mind over flying Southwest. If you’re the drug czar, though, surely part of your job should be flying Spirit.
If he can hold firm through May 2026, we’d all be better off. Folks, 3-4% is not unreasonable. Way too much uncertainty with tariffs and the AI-hype these days. Good luck out there!
We need a Maga person in charge.
Lisa Cook is the mortgage fraud person, from what I understand.
I have mixed feelings about some of the Fed issues right now, but Powell should have come out and done a trivial 25 basis point cut last week; he put himself in the position of siding with data that may not even be accurate.
Now, some of the others on the fed board are saying they may not do any cuts the rest of the year, and that has impacted the markets today, I’m sure.
As far as flying commercial, I think that is fine for a public servant. Most private business people do it. I would argue that they would be more productive if they flew in business class or on a private aircraft, but who wouldn’t be? Maybe the issue isn’t flying economy, but that economy is too cramped for anyone.
@DaninMCI
She’s also a clearly a dei hire that was chosen for obvious reasons.
If you want to be a “public servant” than fly with the peasants. Otherwise take a big corporate job where you can get private in your employment contract. As far as interest rates, it’s like putting a band aid on a gunshot. The economy is wobbly because people and government entities are deep ass into debt. The credit cards are maxed, car payments of $1K plus, buy now/pay later schemes. It’s all going to fecal matter. But what I find is that often people making very nice six figure salaries (like some here) have no clue to how many Americans are living.
George gets it. Mostly.
Public servants should not be flying private or government jets.
As for interest rates and the economy, we all keep hearing that the bottom will fall out but it is not. In fact, Walmart reported pretty strong results today; despite saying it is absorbing some tariffs, it is also reducing prices on thousands of items, something it could not do if input costs were out of control.
The US and EU are reportedly inching closer to a final deal and Boeing’s best salesman who lives in the White House is reporting working on a massive 500 aircraft order by China, amends for all of the cheap stuff that China sends to the US – and which help lower income consumers.
The bottom is not falling out and, maybe, just maybe, tariff revenues will help reduce the US debt and Powell will be able to reduce rates based on strong economic fundamentals.
Let’s see the bill for the accommodations while in Jackson Hole.
@Tim Dunn “Public servants should not be flying private or government jets.”
Air Force One? Air Force Two?
SecDef?
@Tim Dunn — I’m an American, so I still root for things to go well for us all; those fears of a tariff-induced recession are still valid, albeit so far delayed, thankfully. When you add 10-15-50% import taxes and no new domestic manufacturing arises, it’s gonna raise costs on most people and businesses. So, as always, time will tell!
@DanInMCI — While no one condones actual mortgage fraud, changing circumstances affecting the ‘primary residence’ question on such applications is fairly common, like the concept of your ‘domicile.’ (Like, in any moment in time there is correct answer but it can change.) So, relying on that as the primary ‘impropriety’ here is really making a mountain out of a mole hill, akin to that saying someone is an ‘illegal’ because they sped one mile per hour over the speed limit (well, technically, yes, that is breaking the law… but rarely enforced, and not worthy of resigning from a job.) Objectively, this is purely a partisan attack, which, is not wise for the perceived independence of the Fed and stability of our financial system. Watch and see how the bond market reacts.
@Walter Barry — I should know better than to take you seriously, but for the sane people who also read this: Sycophants who just drop interest rates regardless of inflation for that ‘juice the economy’ feeling will be disappointed when that leads to stagflation and/or currency devaluation. However, since you’re a literal pro-Putin disinformation agent on here and elsewhere, I’d assume you’d prefer the chaos.
@Tim Dunn proving my point you have not talked to those in the society making less than $50K a year. Sure they can lead a spartan life but that’s not easy in today’s world. Particularly with kids. Do you want to tell your kid there’s no $50 for the school trip? No money for a summer camping trip? No money for a phone? No new school clothes? So the parents pull out the credit card or do an Affirm type of deal. Sure my Silent Generation parents would have told me tough, there’s no money. Luckily both of my parents had great salaries but kids I went to school with often got the “life is tough line.” It’s not that way anymore. At least for now.
Timmy, sugar, tariffs aren’t just numbers on a spreadsheet — they’re a tax parade, and you’re front-row waving your red hat like it’s a float.
@George Romey — You do realize there are folks in their 20s who pay for First Class, either because they’ve done well for themselves or inherited, and likewise, there are older people living on fixed incomes who cannot afford much at all. Just saying, the ageism isn’t helpful or determinative here.
@Tim Dunn: yes, the bottom has not dropped out. But we’re driving very fast with our seatbelts unbuckled. We’re fine until we’re suddenly not.
But. DHS poser Kristi Noem put 50 million in the Coast Guard budget for her new Gulfstream jet. That’s right 50 million ( way too much) . It’s important to get the photo op painting the border wall, whilst Powell flies commercial.
@1990
Marxists, such as yourself, need to create these fantasies in your mind to lie to yourself about that fact that the world is rejecting your failed ideology.
@Maryland
Maybe if left-wing terrorists didn’t try and attack her for doing the job of protecting the borders from the hordes of 3rd world leeches both inside this country and attempting to enter it she wouldn’t need all that security.