Fed Chair who rejected Trump's rate cut demands faces firing threat
Key Points
- Trump's demand for Powell's resignation due to his reluctanc...
Jerome Powell must feel like that friend who refuses to lend money for a questionable investment scheme. Trump's latest Truth Social tantrum calling Powell "Too Late" and demanding his immediate resignation has about as much legal weight as a cryptocurrency backed by unicorn tears, but it's still rattling markets like a paint mixer at Home Depot.
The drama stems from Powell's stubborn refusal to slash interest rates fast enough for Trump's liking. The President argues that high rates are drowning the nation in debt servicing costs, while Powell prefers his "wait and see" approach to gauge the...
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