Powell asks for IG review
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Fed, Powell and White House
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Jerome Powell, Scott Bessent
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Trump has been highly critical of Jerome Powell this year, pressuring him to cut rates. The Fed Chair has said he's awaiting further clarity on inflation.
A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.
Potential removal of Fed Chair Jerome Powell could disrupt markets, spike inflation expectations, and impact the USD and bonds.
Analysts at Deutsche Bank consider the president's removal of Fed chief Jerome Powell "one of the largest under-priced event risks over the coming months."
President Donald Trump has signaled he’s already looking to replace Federal Reserve Chair Jerome Powell far earlier than usual. Here’s how a so-called ‘shadow’ Fed would work, and why it could cause problems for markets.