The Trump administration has escalated its campaign against Federal Reserve Chair Jerome Powell, with the White House considering demotion or even dismissal. This move comes after President Donald Trump sent a letter to Powell demanding lower interest rates, a move aimed at bolstering economic factors ahead of the 2020 election. Trump also criticized the Fed’s quantitative tightening policy and the increase in the federal funds rate, which he believes negatively impacted the economy. The administration’s efforts to pressure Powell reflect Trump’s broader strategy to assert control over the independent Federal Reserve and manage economic perceptions amid trade tensions and geopolitical issues.

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