Why Trump’s attacks on Jerome Powell are raising fears for the US economy
Al Jazeera3 days
Trump, Powell Clash Over Federal Renovation Costs
Above: Donald Trump and Jerome Powell at the Federal Reserve's headquarters renovation project on July 24, 2025. Image copyright: Chip Somodevilla/Getty Images
The Spin
Republican narrative
Powell's refusal to cut rates is economically tone-deaf and morally negligent. With inflation tamed and growth strong, his fixation on outdated fears is strangling the housing market, punishing families, and wasting billions in taxpayer dollars. History won't be kind to a Fed chair who clung to caution while the American people bore the cost of his stubbornness.
Democratic narrative
Trump's attacks on Powell are reckless and dangerous, undermining the very independence that shields U.S. monetary policy from political whim. Bullying the Fed to slash interest rates risks stoking inflation and shaking investor confidence. History warns us: when presidents meddle with the Fed, the U.S. suffers. Trump is playing with fire for personal gain.