๐ฅ Trump vs. Fed Chair Powell: Tensions Escalate ๐๐
President Trump has intensified his attacks on Federal Reserve Chair Jerome Powell, threatening to fire him for not cutting interest rates (currently 4.25%โ4.5%) aiming to reduce national debt costs ๐ธ๐. Trump blames Powell for economic setbacks and is eyeing potential replacements like Scott Bessent or Kevin Warsh ๐๐.
Powell, whose term ends in May 2026, remains firm on the Fedโs independence ๐ก๏ธโ๏ธ, citing legal protections and the need to assess Trumpโs proposed tariffs, which could fuel inflation ๐๐ฅ.
With tense private meetings and Trump calling Powell a โmoronโ ๐ก๐ฑ, the feud is stirring concerns over the Fedโs autonomy and market stability ๐ผ๐.