#PowellVsTrump

Former President Trump escalated his feud with Federal Reserve Chair Jerome Powell on June 20, calling him a “total and complete moron” and pondering whether to fire him, despite Supreme Court protections limiting presidential removal to “for cause” . Powell remains firm, supported unanimously by the Fed board . Meanwhile, Fed Governor Christopher Waller backed Trump’s push for rate cuts as soon as July, offering political cover . With Powell’s term expiring in May 2026, markets and policymakers are watching closely—any misstep could reshape U.S. monetary policy and test the Fed’s independence.