How the Powell Probe Could Blow Up Trump’s Fed Plans
The much-criticized criminal inquiry triggered some rare GOP pushback. It may leave Powell at the Fed for longer while making rate cuts less likely.
Fed Chair Jerome Powell testifies before the Senate Committee on Banking, Housing and Urban Affairs last June
Photographer: Kent Nishimura/Getty Images
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Donald Trump’s latest escalation in his war against Federal Reserve Chair Jerome Powell has sparked a rare and potentially consequential backlash. On this episode of Trumponomics, host Stephanie Flanders, Bloomberg’s head of government and economics, is joined by Anna Wong, chief US economist for Bloomberg Economics, and Bloomberg News correspondent Saleha Mohsin to unpack the furor unleashed by the administration’s criminal probe of Powell and how it may derail the president’s plans for the Fed.