#TrumpVsPowell
According to a White House official, Trump is actually looking into removing Jerome Powell as Fed Chair. If that happens, it would be the first time in modern U.S. history a sitting Fed Chair gets fired.
The clash between Donald Trump and Jerome Powell has become a focal point in discussions about the independence of the Federal Reserve. During his presidency, Trump repeatedly criticized Powell, whom he appointed as Fed Chair, for not cutting interest rates aggressively enough to stimulate the economy. Trump believed lower rates would boost economic growth and stock markets, especially ahead of elections. Powell, however, maintained that the Fed must act independently, basing decisions on economic data rather than political pressure. Their ongoing tension highlighted concerns about political influence over monetary policy. Despite pressure, Powell upheld the Fed’s mandate, reinforcing its commitment to long-term economic stability.
#TrumpVsPowell
