Will Trump Fire Jerome Powell? Fed Chair Faces Rising Pressure

Key Points

1. Trump is angry at Powell for not reducing interest rates, blaming the Fed for increasing debt-servicing costs and inflation.

2. Legal experts say Trump cannot easily remove Powell before his term ends in May 2026, as Powell is protected from dismissal without cause.

3. Powell argues that Trump's tariffs are contributing to inflation, complicating the Fed's ability to justify rate cuts.

4. Bitcoin's price rose 2.62% amid the political uncertainty, reflecting market sensitivity to Fed policy debates.

5. The conflict between Trump and the Fed is creating tension in both traditional and crypto markets.