Part 2/9:
Grandich begins by reflecting on the U.S. Federal Reserve under Chair Jerome Powell and its strained relationship with former President Donald Trump. He notes that Trump's vocal discontent with Powell's policies could reveal deeper rifts at a critical moment for the economy. According to Grandich, Trump’s aggressive trade policies have rallied other nations, such as South Korea, Japan, and China, to seek alternatives to U.S. influence—signifying a loss of diplomatic leverage for the United States.