#TrumpVsPowell

*Key Points:*

- *Trump's Criticism*: Trump has ramped up pressure on Powell for not cutting interest rates, which he believes would help the economy.

- *Powell's Independence*: The Federal Reserve chair isn't guaranteed to be the chair of the Federal Open Market Committee (FOMC), and no president has ever fired the chair of the Federal Reserve in over a hundred years.

- *Limitations of Trump's Power*: Even if Trump were to replace Powell, the new chair wouldn't have a "magic wand" to lower rates or lead monetary policy, as the Fed operates independently.

- *Economic Implications*: The Fed's decisions on interest rates can significantly impact the economy, and Trump's criticism highlights the tension between the executive branch and the Fed's independent decision-making process ¹ ².