Fox contributor joins Trump in slamming Fed chair over interest rates: “This is political theater. He is trying to maintain the appearance of independence.”
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From the January 29, 2026, edition of Fox News' America's Newsroom
DANA PERINO (CO-HOST: That was Federal Reserve Chairman Jerome Powell yesterday announcing the decision to leave interest rates unchanged. That call coming after three consecutive rate cuts in the central bank's last three meetings, and amid tensions between Powell and President Trump. Let's bring in Lou Basenese, he's executive vice president of market strategy at Prairie Operating Co. and a Fox News contributor.
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PERINO: President Trump didn't like this decision. He put this on Truth: "Jerome too late Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high. He is hurting our Country and its National Security." Powell sees it differently, how do you?
LOU BASENESE (FOX BUSINESS CONTRIBUTOR): Yeah, amen to the president's remarks. Because I think Powell here, this was no surprise that he didn't cut rates. This is political theater. He is trying to maintain the appearance of independence. Even though the data suggests he should have cut. If you look at small businesses and job growth there, they're really struggling. So, he mentioned that the job market is stabilizing, but not for the engine of economic growth in the United States, and that's small businesses.