#TrumpVsPowell The #TrumpVsPowell saga revolves around US President Donald Trump's public feud with Federal Reserve Chairman Jerome Powell. Trump has been vocal about his dissatisfaction with Powell's monetary policies, particularly his decision not to cut interest rates. Here are the key points ¹ ²:

- *Trump's Criticism*: Trump wants the Fed to cut interest rates to boost the economy, but Powell has maintained that the Fed's decision is independent of political pressure.

- *Potential Firing*: Trump has hinted at firing Powell, but the process would be complex and require proving "cause." The White House is studying the possibility of dismissal.

- *Fed Independence*: Powell has defended the Fed's independence, stating that they won't be swayed by political pressure. He emphasized that their decisions are based solely on economic data and the Fed's dual mandate of maximum employment and stable prices.

- *Tariffs and Economy*: Powell has expressed concerns about the impact of Trump's tariffs on the economy, warning that they could lead to higher prices and slower growth.

The tension between Trump and Powell highlights the delicate balance between the executive branch and the independent Federal Reserve. The Fed's autonomy is crucial in maintaining economic stability, and Powell's stance underscores his commitment to keeping politics out of monetary policy decisions.