🚨 BREAKING: Trump Threatens to Fire Fed Chair Powell
President Trump has declared he will fire Federal Reserve Chair Jerome Powell if he does not step aside when his term expires on May 15, 2026. CNN
Trump called Powell out directly, saying "He's doing a bad job. He should be lowering interest rates." NPR
Here's what's happening behind the scenes:
🔍 The DOJ launched a criminal investigation into Powell over a $2.5 billion renovation of the Fed's Washington headquarters, with allegations of cost overruns and misleading Congress. CNN
⚖️ Powell has pushed back, stating the president cannot legally remove him without cause, and that he would almost certainly challenge any such action in court. CNN
📉 Meanwhile, the Fed is actually considering rate hikes rather than cuts, as the US-Israeli conflict with Iran has driven inflation sharply higher after a closure of the Strait of Hormuz disrupted global oil supply. CNN
🔄 Wall Street fears Trump's pressure campaign could backfire — making the Fed less likely to cut rates as it asserts its independence. Fortune
Bottom Line: Trump wants cheap money. The Fed wants independence. Markets are caught in the middle. 👀
Not financial advice. DYOR.
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