00:00Chairman of the board of Fannie Mae and Freddie Mac, he piled on to the Trump versus Powell feud.
00:06Listen to this.
00:07Issued a statement today saying, quote, I'm encouraged by reports that Jerome Powell is considering resigning.
00:13I think this would be the right decision for America and the economy will boom, unquote.
00:17I'm not sure exactly what he's referring to.
00:20Maybe it's wishful thinking on the I mean, you got to believe Powell's thought about it, how seriously he thinks about it.
00:26But, you know, obviously a lot of investors are going to say this is this is making them nervous about Fed independence.
00:36What what do you think when you hear a comment like that from Pulte?
00:40Well, I think that that's probably the job of commentability, like people like Pulte and even President Trump.
00:46That's their job to commentate. I mean, that's why they have the big pulpit that they use.
00:50However, what we do know about Jerome Powell is he has two jobs.
00:54And that is to, well, three jobs.
00:57One is to not be political.
00:58Two is to make sure we're fully employed.
00:59And three is to make sure we have a stable dollar.
01:01You saw the numbers today in the dollar index.
01:03The dollar looks strong in the face of tariffs.
01:05You see the jobs numbers every single month so far.
01:08They look good.
01:08They look promising.
01:10So what more are you saying?
01:11I mean, you keep saying, hey, tariffs are we're waiting to see what it looks like.
01:15Well, you're you're basically being political that way, commentating on the policy of the commander in chief,
01:21saying we're not going to do something because of your policies, even though he did what Trump wants for Biden and Harris back during campaign season.
01:31So I think that there is some politics going on there at the Fed.
01:34And I'll just say this again, you know, just real quick.
01:38Think about the job is to that two percent target.
01:40Well, Powell has been within 10 percent of that two percent inflation target three times out of the last 76 months that he's been in office.
01:50Tim, I've got a question.
01:51We've got like 10 seconds with you, but really quick.
01:54Russ vote again coming out today.
01:56You know, office of, you know, management budget director.
01:59He says he wants to investigate the renovation at the Federal Reserve.
02:04Two point five billion dollar massive cost overrun.
02:07He wants the facts.
02:08How serious do you take this?
02:11Let's go.
02:12I mean, this is what Doge was all about.
02:14Bring it on.
02:15Let's question it.
02:16And if they need another building, maybe they can take the FBI's old building or some other building in D.C. that's empty.
02:22There's plenty of them.
02:24Yeah, two and a half is a lot.
02:25That would be a couple of football stadiums and nice ones with a good concourse and so forth.
