It is unclear whether Trump might seek to remove Powell as the head of the central bank. But even doing so wouldn’t necessarily give him control of the agency that makes policy

Jerome Powell, the chairman of the Federal Reserve, is fast becoming Trump’s most serious domestic opponent and making him enemy number one for Maga supporters. This is not because Powell – appointed by Trump in his first term, when the president refused to renew Janet Yellen as chairman – is an active opponent of the Republican.

The European Central Bank cut its main interest rate by a quarter of a percentage point Thursday, citing growing trade tensions after US President Donald Trump’s tariffs sparked a global trade war.