Trump Attacks Fed Chairman After Inflation Warning

The New York Times reports:

President Trump lashed out at Jerome H. Powell, the chair of the Federal Reserve, on Thursday, saying “Powell’s termination cannot come fast enough!” Mr. Trump’s ire followed remarks by Mr. Powell on Wednesday, in which he warned in a speech that tariffs could create a “challenging scenario” for the central bank by putting its two main goals — stable inflation and a healthy labor market — in tension.

The fear across Wall Street and Washington is that Mr. Trump will seek to undermine the central bank’s independence in a more permanent way. The top concern is that he will try to remove Mr. Powell from his position before his term as chair expires in May 2026. Mr. Trump has already signed an executive order trying to seize more control over the central bank’s responsibilities related to bank regulation.

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