Jerome Powell: The 'Fed chair with a spine' taking on Trump

• Jerome Powell, US Federal Reserve Chair, has publicly resisted Donald Trump's criticisms, a rare stance among public figures.
• Powell accused the Trump administration of threatening him with prosecution to pressure the Fed into cutting interest rates, citing a new Department of Justice investigation.
• This forceful response highlights the seriousness of the issue and Powell's commitment to the central bank's independence.
• Powell, appointed by Trump in 2018 and re-nominated by Biden in 2021, has navigated significant economic challenges including rate hikes and cuts.
• Experts believe Powell's actions will cement his legacy as a Fed chair who stood up for the institution's independence and the rule of law.

Why It Matters: Jerome Powell stands firm against Trump's pressure, defending the Federal Reserve's independence.