#TrumpVsPowell

The ongoing feud between US President Donald Trump and Federal Reserve Chairman Jerome Powell centers around Trump's dissatisfaction with Powell's interest rate policies. Here are the key developments:

- *Trump's Criticism*: Trump has repeatedly criticized Powell, calling for his removal and labeling him "always TOO LATE AND WRONG". He believes the Fed chair doesn't understand what he's doing and should lower interest rates.

- *Potential Removal*: The Trump administration is studying options to fire Powell, with National Economic Council director Kevin Hassett saying they're still considering whether removing Powell is viable. Trump claims he has the authority to remove Powell "real fast".

- *Powell's Stance*: Powell maintains that he cannot be legally removed before his term ends in May 2026 and has no intention of stepping down. He emphasizes the importance of the Fed's independence, drawing support from business leaders.

- *Interest Rate Disagreement*: Trump wants the Fed to cut interest rates, citing global trends, while Powell has kept rates steady between 4.25% and 4.50% since December. Powell warns that tariffs implemented by the Trump administration pose a serious risk to the American economy.

- *Fed's Independence*: The tension between Trump and Powell raises questions about the Fed's independence. Powell underscored its importance during an Economic Club of Chicago appearance, drawing support from business leaders. BY( SIKDURRANI)