Meet Jerome Powell, Federal Reserve chairman, enthusiastic promoter of illegal immigration, elitist, and all-around hypocrite.
Powell is one of those economic elites who is in love with the idea of importing large numbers of illegal aliens to do work for cheaper wages in worse working conditions while Americans who want those jobs at decent wages go unemployed. Meanwhile, his renovations at the Federal Reserve offices have reached a mind-boggling price tag of $3 billion. Because he’s special. But his horrible fiscal policies will continue.
The exorbitant spending of Congress and the executive branch is bankrupting our country, but the Federal Reserve is definitely a big part of the problem. In recent years, especially during and after the Covid-19 lockdowns, the Fed irresponsibly printed money, drove up inflation, raised interest rates, and subsidized foreign banks.
But one of Powell’s most personally pernicious beliefs concern illegal immigration. Last year, he rambled, “I would also point to a fairly large influx of immigration into the country over the last couple of years, so those people are joining the labor force… they’re going to work and they’re consuming, so that's also boosting growth.” He tried to say there was a labor shortage, and illegals were needed to fill it, but that’s false. Even as all the labor gains under the Biden administration went to immigrants, blue-collar U.S. men were increasingly unemployed.
Fed Chair Jerome Powell comments on the illegal invasion: "I would also point to a fairly large influx of immigration into the country over the last couple of years...so that's also boosting growth." Bidenomics has failed, so the regime is using illegals to cook the books.
— Charlie Kirk (@charliekirk11) May 13, 2024
Related: Rand Paul: 186 Billion Reasons to Audit the Fed
Elites like Powell benefit from the influx of cheap labor even if We the People don’t. Hence in June, after pressing from a representative during a congressional hearing, Powell agreed with the false argument that deporting illegal immigrants slows economic growth (it doesn’t): “One is growth in the labor force, more people working, and the other thing is productivity, how much do they produce per hour of work. And when you significantly slow the growth of the labor force, you will slow the growth of the economy.” Simply adding new bodies does not automatically improve the economy. It can even harm the economy overall, as in the case of illegal migration.
In fact, there is not a labor shortage, but rather an excess of foreign workers. That is why so many Americans are enthusiastic about deportations of illegal alien workers. When one Nebraska plant was raided by ICE, its waiting room was immediately jam-packed with Americans seeking the empty positions. Despite companies actively looking to hire illegals at lower wages, most construction workers in America are Americans. You can read more about the myth that illegals only take jobs Americans won’t do here.
Of course, also last year, Powell admitted that illegal immigration was a factor in the unemployment crisis. The reality, however, is that he simply doesn’t care. Powell is not working for the good of the country, but for the benefit of himself and his fellow elites.
Powell’s gross hypocrisy made headlines this week, however, as Donald Trump revealed live on TV that the Fed’s office renovations budget had reached the gargantuan proportions of over $3 billion. Powell, trying to argue with Trump on TV, simply made himself look silly. His building, now nicknamed “the Swamp’s Versailles,” has proved a perfect illustration of how out of touch and fiscally irresponsible Powell is.
If Jerome Powell going to lower interest rates, there's a possibility he can make up with President Trump, but spending money on the new Fed building, nicknamed "The Swamp's Versailles," is a waste of taxpayer dollars and I'm glad President Trump is calling it out. pic.twitter.com/sNG5aot7QU
— Mercedes Schlapp (@mercedesschlapp) July 28, 2025
Time for a new head of the Federal Reserve.
