US President Donald Trump has escalated his criticism of Federal Reserve Chairman Jerome Powell, suggesting that “termination” could be on the horizon. The situation raises questions about the extent of Trump’s power to remove Powell from office.
A key court case is watching this scenario closely. In recent days, Powell stated that the independence of Fed governors “is a matter of law.” This statement underscores the importance of Powell’s position and suggests he views his role as unassailable.
The Supreme Court is keeping an eye on the situation, although no specific details have been shared about the case. Trump’s comments on Truth Social further fuel speculation about potential action against Powell. As the situation unfolds, its impact on financial markets and the economy remains to be seen.
Source: https://www.marketwatch.com/story/trump-calls-for-powell-termination-in-way-that-leaves-multiple-interpretations-heres-the-key-court-case-61c424e5