Trump vs. Federal Reserve's Powell

Trump's nominee for the next Fed chair, Kevin Warsh, is scheduled for a Senate confirmation hearing next week as the administration pushes for more control over monetary policy.

Fed Governor Christopher Waller has expressed caution regarding rate cuts, citing the inflationary risks of the Iran war and new trade tariffs.

Economists warn that any perceived loss of Fed independence could lead to long-term economic instability.

The standoff comes as the administration seeks to present a positive economic outlook ahead of the midterm elections.