Trump Criticizes Powell, Demands Rate Cuts Amid Economic Uncertainty

President Donald Trump has escalated his criticism of Federal Reserve Chair Jerome Powell, repeatedly calling for immediate interest rate cuts and labeling Powell a 'major loser' for allegedly acting too late to support the economy. Trump claims inflation is under control and argues that 'preemptive cuts' are needed to prevent an economic slowdown, contrasting Powell's cautious stance with rate cuts already implemented in Europe. The president has also suggested Powell lowered rates in the past to benefit President Biden during the election cycle, a claim unsupported by evidence. Amid Trump's pressure, the White House is reportedly reviewing the legal feasibility of removing Powell before his term ends, raising concerns about the central bank’s independence. These tensions have unsettled financial markets, with U.S. stocks dipping and Bitcoin surging as some investors seek decentralized alternatives amid political uncertainty. Fed officials and some lawmakers have defended the importance of the Fed’s independence, warning that political interference could harm economic stability.