Trump's legal attack on Powell puts pressure on Fed as Trump seeks full control
President Trump's legal attack on Federal Reserve Chairman Jerome Powell suggests his aim for full control over the Fed, as a criminal investigation into Powell appears to be emboldening defenders of the central bank.
President Donald Trump's legal attack on Federal Reserve Chair Jerome Powell appears to be emboldening defenders of the US central bank, as a criminal investigation into Powell has been ongoing since 2019, raising questions about Trump's aim for full control over the Fed amid a contentious presidential election cycle. The investigation is now targeting Powell and other former Fed officials, highlighting the growing tensions between Trump and the Fed. Critics argue that Trump's actions amount to an attempt to undermine the independence of the central bank, while supporters see it as an attempt to hold accountable those who allegedly worked against him. The probe has sparked a heated debate about the role of the Fed in the US economy.
