President Trump’s second term has seen him sharpen his focus on confronting political adversaries and reinforcing his claims of presidential authority. This strategy is now being directed toward the Federal Reserve, the United States’ central banking system. Trump’s actions represent an effort to consolidate power and influence over monetary policy, which has traditionally been a domain of independent central banks.
Jerome H. Powell, the current chair of the Federal Reserve, has faced relentless criticism from Trump. The president has accused Powell of mismanaging the economy and failing to support American businesses. These attacks come amid a broader push by Trump to reassert executive control over key financial institutions, a move that has significant implications for U.S. economic policy and monetary stability.