# Jerome Powell’s Silent Crisis: The Growing Revolt Inside the Federal Reserve Page: https://stenobird.com/podcast/the-pomp-letter-3932923/jerome-powell-s-silent-crisis-the-growing-revolt-inside-the-federal-reserve Text version: https://stenobird.com/podcast/the-pomp-letter-3932923/jerome-powell-s-silent-crisis-the-growing-revolt-inside-the-federal-reserve.md Podcast: [The Pomp Letter](https://stenobird.com/podcast/the-pomp-letter-3932923) Published: 2025-11-24T14:38:26+00:00 Episode link: https://pomp.substack.com/p/jerome-powells-silent-crisis-the Audio file: https://api.substack.com/feed/podcast/179775135/81de3624b0b3e3b46b61f6c05adc9ca6.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/the-pomp-letter-3932923/episodes/jerome-powell-s-silent-crisis-the-growing-revolt-inside-the-federal-reserve Duration seconds: 402 ## Resource Today’s letter is brought to you by Lava ! Lava’s bitcoin-backed line of credit allows you to unlock your bitcoin’s purchasing power— instantly, flexibly, and securely— without selling your bitcoin. Borrow dollars in real time with no monthly payments, open terms, and the lowest fixed interest rates in the industry— starting at just 5%. Lava is the only bitcoin lending platform available globally—you can borrow from any country or state. With Lava, you can access a full suite of bitcoin-powered financial tools : → Borrow dollars instantly → Earn 5% APY on your USD balance → Buy bitcoin with zero fees It’s everything you need to grow your bitcoin wealth— without ever selling your bitcoin. To investors, The Federal Reserve and the Board of Governors have a history of debating policy decisions behind closed doors, yet they almost always put on a united front when it comes time for their periodic vote on monetary policy. That is why it was such a big deal when two Fed Governors dissented at the same time back in July of this year. Not one, but two Governors dissenting in the same meeting. We had not seen two Fed Governors dissent in the same meeting since 1993, so the rarity of the situation raised eyebrows. At the time, most people wrote off the anomaly as a politically driven outcome. Fed Chairman Jerome Powell doesn’t seem to be a fan of Donald Trump and the two Fed Governors who dissented were Trump nominees. The Fed is supposed to be independent, but if you believe that I have a bridge to sell you. The institution is made up of humans. Humans are biased. That bias doesn’t have to surface in a malicious or nefarious way, but every human is affected by their personal beliefs. That is how human nature works. No one, not even a central bank, is safe from it. But now we ar… ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/the-pomp-letter-3932923/episodes/jerome-powell-s-silent-crisis-the-growing-revolt-inside-the-federal-reserve/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/the-pomp-letter-3932923/jerome-powell-s-silent-crisis-the-growing-revolt-inside-the-federal-reserve.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.