Powell's Independence Tested by Trump's Monetary Policy Demands

The fate of US Federal Reserve chair Jay Powell looks increasingly uncertain as the Trump administration ramps up pressure on the central back to cut rates faster. Powell has been resolute that he will not be influenced by Trump’s attempts to sway the Fed, instead sticking to its mission of bringing down any inflation that could be caused by tariffs raising prices. “He [has] indicated that the Fed would probably put its anti-inflation mandate ahead of the target to see full employment in the USA if price pressures ticked higher,”…