特朗普找到鲍威尔“污点”！

Core Viewpoint - The Trump administration is intensifying pressure on Federal Reserve Chairman Jerome Powell, using the controversy over the excessive spending on the Fed's headquarters renovation as a means to force Powell to resign before the end of his term [1][2][3]. Group 1: Pressure on Powell - The Trump administration's recent actions suggest a legal pathway to potentially remove Powell, focusing on the renovation costs of the Fed's headquarters, which have reportedly increased by 30% from $1.9 billion to $2.5 billion [5][6]. - White House officials, including National Economic Council Director Kevin Hassett, have publicly stated that Trump has the right to dismiss Powell based on "just cause," which may relate to the overspending on the renovation project [7][8]. - The current situation mirrors past political pressures on the Fed, reminiscent of Nixon's tactics against then-Chairman Burns in the 1972 election [8]. Group 2: Market Reactions and Risks - Analysts warn that the risk of Powell's forced resignation is significantly underestimated by the market, with potential consequences including a 3-4% drop in the trade-weighted dollar index and a sell-off in U.S. Treasury bonds by 30-40 basis points [19]. - The Deutsche Bank report indicates that if Powell is removed, it could lead to a direct challenge to the Fed's independence, causing instability in global markets [19][20]. Group 3: Potential Successors - Trump is reportedly considering "two or three" candidates to replace Powell, including former Fed Governor Kevin Warsh and current Fed Governor Christopher Waller, who have expressed views that align more closely with Trump's economic agenda [9][10][13]. - The candidates are adopting more dovish stances to increase their chances of being selected, which could further complicate the Fed's approach to managing inflation and economic growth [16].