Trump's Battle with Fed Chief Powell Escalates: Subpoenas Issued Amidst Monetary Policy Clash

• Donald Trump is actively trying to remove Federal Reserve Chair Jerome Powell, escalating tensions over monetary policy.
• The Justice Department issued grand jury subpoenas to the Federal Reserve regarding Powell's testimony on a $2.5 billion office renovation.
• Powell views the subpoenas as a pretext to pressure the Fed into aligning with the White House's preferred interest rate policies.
• Trump denies direct involvement but has consistently criticized Powell's leadership and called for lower interest rates.
• The controversy raises concerns about the Federal Reserve's independence and its impact on global markets and investor confidence.

Why It Matters: Trump's efforts to oust Fed Chair Powell through subpoenas threaten the central bank's independence.