Part 3/12:
Adding fuel to the fire, recent developments within the Federal Reserve further complicate Powell’s situation. Following the abrupt departure of Fed Governor Adriana Cuddler, President Trump nominated Steven Myron, a known Powell critic and proponent of aggressive rate cuts, to fill her seat. Myron’s views align closely with Trump’s, advocating for reforms that would grant presidents the authority to dismiss Fed chairs at will—a move that could undermine the Fed’s independence.