Trump targets Fed Chair Powell

The president's renewed threats against the central bank chief have raised significant concerns regarding the independence of U.S. monetary policy.

While Powell's term as chair expires in May, he holds a separate seat on the Board of Governors that extends until 2028, leading to a potential legal standoff.

Treasury Secretary Scott Bessent expressed optimism that nominee Kevin Warsh will take over on time, despite the ongoing probe.

Critics warn that political interference with the Fed could undermine market stability and hinder efforts to combat inflation.