President Donald Trump is exerting federal control over Washington, D.C.'s infrastructure by transferring management of Union Station from Amtrak to a federal department, underscoring a significant shift in government oversight of public assets.
In a bold move, Trump has called for the resignation of Federal Reserve Governor Lisa Cook amid allegations of mortgage fraud, challenging the independence of the Federal Reserve and intensifying his campaign against monetary policy dissent.
Trump has publicly criticized Federal Reserve Chair Jerome Powell, claiming that high interest rates are harming the housing market, and is demanding swift monetary policy changes to stimulate economic growth.
The pressure from Trump has led to heightened investor anxiety, with markets reacting to the potential influence of the White House on the central bank's decision-making processes.
Jerome Powell has hinted that the Federal Reserve may soon lower interest rates, indicating a cautious approach as economic vulnerabilities and inflation risks emerge, further complicating the political and economic landscape.
This dynamic reveals an escalating conflict between the executive branch and the Federal Reserve, raising questions about the balance of power in economic governance and the implications for future U.S. monetary policy.