Trump Administration Increases Pressure on Federal Reserve Chair Jerome Powell

Reports emerged on Monday indicating that the Trump administration has hinted at the potential for legal action against Jerome Powell, the Chair of the Federal Reserve, as political pressure on him intensifies.

This suggestion follows controversy surrounding Powell's testimony before Congress regarding the renovation project of the Fed's building, with the administration suggesting that his statements might imply violations or excesses warranting accountability.

The situation underscores the growing tension between the White House and the U.S. monetary authority during a critical period of debate over the central bank's independence and its role in managing the country's fiscal policy.