What Trump’s Attacks on the Fed Chair Are About

CNN: “White House advisers are now unequivocally engaged in a coordinated effort to dramatically ramp up the pressure on Powell in public statements and through bureaucratic moves designed to give Trump more leverage.”

“That leverage, sources say, isn’t designed to trigger Powell’s removal – at least not at the moment.”

“But with Trump’s frustration over the Fed’s refusal to bow to his pressure to lower rates growing by the day, it is the most consequential step taken thus far to bring that threat to Powell’s doorstep.”

“It also serves as the clearest window into the expanding effort to change Powell and the Federal Open Market Committee’s insistence on independence.”