President Trump has publicly revived his threat to remove Federal Reserve chair Jerome Powell, blaming him for political bias and inaction on interest rates. Although Trump has expressed strong displeasure, he is reportedly aware that firing Powell risks significant instability in the financial markets, particularly following recent administration tariffs that have already shaken investor confidence. Despite expressing a desire to remove Powell swiftly, Trump's advisers caution against such a move, underscoring the legal complexities and potential for economic turmoil that could ensue.
Mr. Trump's advisers have repeatedly told him that firing Mr. Powell is both legally and financially fraught and the uncertainty could cause a significant downturn in financial markets.
Mr. Trump has privately fretted about the prospect of a Great Depression-scale event happening on his watch, a scenario he shorthands in conversations as 1929.
Collection
[
|
...
]