Trump’s first big fight is shaping up: Powell’s refusal to resign from the Fed
Published On Nov 8, 2024, 4:09 PM
The article discusses the tension between President-elect Donald Trump and Federal Reserve Chairman Jerome Powell regarding monetary policy. Trump has expressed a desire for influence over interest rates and may seek to replace Powell with someone who aligns more closely with his economic agenda. Powell, on the other hand, has stated he will not resign under pressure and maintains that the Fed operates independently of political influence. As Trump's administration starts, possible shifts in fiscal policy, including aggressive tariff changes and tax cuts, could complicate the Fed's ability to manage inflation and monetary policy.