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Trump’s attacks on Fed’s Powell ramp up GOP’s economic fears

  • President Donald Trump attacked Federal Reserve Chair Jerome Powell on Monday, April 21, demanding interest rate cuts to boost the United States economy.
  • Trump wants lower rates for economic stimulus, while the Fed resists rapid cuts aiming to prevent inflation from reaccelerating near its 2% target.
  • Reports indicate the administration is studying whether it can fire Powell, which could undermine the Fed's independence and trigger legal challenges.
  • Major US stock indexes fell, the dollar index dropped significantly, while gold prices and Bitcoin saw notable gains on Monday.
  • The President's actions and trade policies are causing market uncertainty, leading to a retreat from US assets and raising global economic standing doubts.
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Forbes broke the news in United States on Monday, April 21, 2025.
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