Co-authored with Sohaib Nasim
July 31, 2025 — Donald Trump has now gone beyond his usual norm-busting habits in his criticism of Federal Reserve Board Chair Jay Powell. He has harassed him to cut interest rates by 300 basis points, has heaped abuse upon Powell personally, has trumped up accusations regarding the remodeling of the Fed’s building, and has gone so far as to draft a letter to fire him. (That is, to remove him from the chairmanship. Even Trump must realize that he doesn’t have the legal power to remove Powell from the Federal Reserve Board altogether.)