Trump attacks the Fed chair, sending a chill through the global economy

Federal Reserve & Political Influence - The report suggests that President Trump's continued pressure on the Fed Chair Jay Powell, including demands for lower interest rates, creates instability and undermines the Fed's independence [1] - Concerns are raised that any replacement for Jay Powell appointed by Trump may lack independence and be perceived as a political appointee [1] - The report highlights the risk that political interference could lead to foreign investors fleeing US dollar and US treasuries, potentially crashing the dollar and driving up interest rates [1] - The discussion includes the possibility of Trump firing Powell over alleged cost overruns in the Fed's DC headquarters renovations, which is seen as a pretext [1][2] Economic Impact & Monetary Policy - Lowering interest rates in a politicized environment could backfire, potentially stoking inflation and causing long-term interest rates to rise [1] - The report mentions that Kevin Warsh, a potential Fed chair candidate, has changed his stance on interest rates, raising questions about his qualifications [2] - The report indicates that retail sales are up by 061% [2] Elon Musk & Political Commentary - Elon Musk has been critical of President Trump, particularly regarding his alleged ties to Jeffrey Epstein [2][3] - Musk amplified reports and made mysterious comments about Trump's involvement, leading to increased scrutiny [2] - Grok received a $200 million contract with the Pentagon [2]