Trump’s bid to oust Powell jeopardizes inflation control and Fed independence

Trump’s threats to fire Federal Reserve Chair Jerome Powell jeopardize central-bank independence, a cornerstone of credible inflation management, and could make lowering inflation more difficult. The Conversation argues that political interference in monetary policy undermines long-run economic stability, even as appointments to central banks remain political in many countries; history shows independence correlates with lower inflation, so undermining it risks higher inflation and more volatility. The piece also notes related actions against Fed Governor Lisa Cook and a DOJ probe, framing this as part of a broader power struggle between politicians and technocratic central banks.