Donald Trump once again directed his criticism at Federal Reserve Chairman Jerome Powell, accusing him of "playing politics" and failing to lower interest rates. However, behind the scenes, the picture appears much more complicated.

☄️ While Trump continues to wave the "nuclear option" – i.e., ousting Powell – sources close to the White House indicate that the president has begun to exhibit an unusual caution, driven by the specter of a catastrophic financial crisis that could tarnish his political legacy. "If I want him out, he will be out quickly, believe me!" Trump said from the Oval Office, before following it up with an angry post on X: "Removing Powell cannot come fast enough!"

⚠️ But advisors, led by Treasury Secretary Scott Piesen, have sounded the alarm for the president: any attempt to remove Powell will not go smoothly, either legally or financially. Tampering with the independence of the central bank – the cornerstone of Wall Street's trust – could spark a widespread financial panic.