Trump Criticizes Fed Chair Powell Over Interest Rates, Sparks Global Concerns

President Trump has repeatedly criticized Federal Reserve Chair Jerome Powell for his handling of interest rates, urging rate cuts to stimulate economic growth and accusing Powell of being "too late" in responding. Trump has publicly floated the idea of firing Powell, claiming support from Republican lawmakers, though he acknowledges legal constraints on removing the Fed chair except for cause. The Trump administration, including OMB Chair Russell Vought, also scrutinized a costly Federal Reserve office renovation project, alleging possible legal violations and excessive spending. Despite these attacks, international central bankers, including ECB President Christine Lagarde, have publicly defended Powell and the independence of the Federal Reserve, warning that political interference risks market volatility and investor uncertainty. Financial experts note that Trump's rhetoric is causing market swings, underscoring concerns about the impact on the U.S. economy and political system. Meanwhile, Trump addressed broader economic and foreign policy issues, calling for tariff adjustments and warning about the Ukraine-Russia conflict, signaling his administration's active engagement beyond monetary policy.