Warsh, the current Chairman of the Federal Reserve, publicly criticized his predecessor, Jerome Powell, stating that inflation exceeded the target for 65 consecutive months during Powell's tenure, a situation that continues to this day. The article points out that during Powell's term, core PCE reached 3.34% in July 2026, significantly surpassing the Federal Reserve's 2% target. Concurrently, the U.S. 10-year government bond yield rose to 4.79% on September 1st, marking a new high for the past year and reflecting market concerns about inflation and the Federal Reserve's credibility. Some analysts believe that history punishes inflation failures far more severely than unemployment, suggesting that Powell's inflation legacy might resemble that of Burns in the 1970s.