Trump attacks Powell again amid Fed independence fears: 'Incompetent' or 'crooked'

Core Viewpoint - President Trump criticized Federal Reserve Chair Jerome Powell, suggesting he is either "incompetent" or "crooked," amid a criminal investigation by the Department of Justice into Powell's actions related to the Fed's renovation costs [1][2][3]. Group 1: Federal Reserve Independence - Trump's remarks raise concerns about the independence of the Federal Reserve, which has historically been protected from executive branch influence [2][3]. - Bipartisan criticism of the investigation into Powell indicates a strong belief in maintaining the Fed's independence among financial leaders [3]. Group 2: Financial Implications - JPMorgan Chase CEO Jamie Dimon expressed that undermining the Fed's independence could lead to negative economic consequences, such as increased inflation expectations and rising interest rates over time [3][4].