www.bloomberg.com
Powell, a Federal Reserve official, is portrayed as a drama where Donald Trump’s allies (“courtiers”) failed him. Trump had hoped to pressure Powell into lowering interest rates to boost the economy before the 2020 election. However, his advisors and appointees did not effectively coordinate to influence Powell or secure his removal. This lack of strategy highlighted Trump’s frustration that the Fed remained independent. Ultimately, the failure to manage the situation undermined Trump’s economic agenda, suggesting his inner circle lacked the competence or leverage to bend the central bank to his political will.
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