President Donald Trump escalated his war with the Federal Reserve this morning, suggesting that he may seek the “termination” of Chair Jay Powell. But before we get to that, please step back and consider this moment for the American economy.
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April 17, 2025
Trump targets Powell as US economy wobbles
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Powell’s not coming to the rescue yet
Federal Reserve Chair Jay Powell painted a dark picture this afternoon of the risks facing the U.S. economy due to President Donald Trump’s trade war. But Powell also made clear the Fed isn’t about to step in with a rate cut quite yet.
As markets tank, Trump tries to shift attention to Powell
Trump’s Fed fiddling causes Hill heartburn
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Punchbowl News Presents
Our new weekly show, Fly Out Day, brings you inside the most consequential decisions shaping Congress with the people at the center of the story. From Hill leadership to Washington’s most-plugged in reporters, join us straight from our townhouse each Thursday evening. Watch the latest episode now.