Clash between Trump and Powell
According to former White House advisor Kevin Hassett, Donald Trump is reportedly exploring whether it's possible to remove Federal Reserve Chairman Jerome Powell from office.
Trump discussed this possibility with former Fed official Kevin Warsh. Warsh advised against such a move, arguing that Powell should be allowed to complete his term.
However, Trump’s strong statements are drawing attention:
“If I wanted to remove him, he’d be gone very quickly. Believe me!”
Trump also emphasized that he won't back down on tariffs:
“If countries don’t want to make a deal, we’ll do it for them.”
Meanwhile, Powell warned that the effects of tariffs on inflation could be more persistent.
Markets are closely watching these developments, as Trump’s influence over the Fed is once again making headlines.