Trump’s Pursuit of Powell Threatens to Muddle Fed Tea Leaves (1)

The Trump administration’s latest attack on the Federal Reserve has stoked expectations that Jerome Powell will stay on the Board of Governors after his term as chair ends in May — setting up the optics of a rival center of influence inside the world’s most powerful central bank, even if Powell doesn’t want it.

That unusual scenario has gained traction after the Department of Justice served the Fed with grand jury subpoenas last week, an unprecedented move viewed widely as an escalation of President Donald Trump’s efforts to influence monetary policy.

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