Federal Reserve Chair Jerome Powell is pushing back against President Donald Trump after deftly avoiding confrontation for months. In a question and answer session Wednesday, Powell portrayed chaotically implemented tariffs as plainly bad for the economy; slammed the approach taken by the Department of Government Efficiency; and issued a legal defense for why he thinks he can withstand any attempt by Trump to fire him. At a time of rising concern about Fed independence, he did us all a favor by showing he’s laser-focused on the central bank’s core goals and will fight to be able to keep it that way.
Predictably, ...
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