Part 5/10:
The relationship between Trump and Powell remains strained. Trump has been openly pressuring the Fed to lower interest rates, aiming to stimulate the economy. However, such direct pressure risks unsettling markets. Experts suggest that the Fed’s independence is under threat, as they would prefer Trump to step back from meddling.
Sources indicate that the Fed openly "wants him to quit" and has little patience for his influence attempts. With Powell's term ending next May, and the Fed's reluctance to fire him—given legal challenges and ongoing court disputes—the tension is expected to persist.