Story perspectives

Trump Pressures Powell as Fed Independence Remains Intact

3/20/2026

Summary

Story summary

Donald J. Trump, the U.S. President, publicly criticized Federal Reserve Chair Jerome Powell and pressed him to lower interest rates.
Powell says he will not resign until the investigation into the Fed's renovations concludes.
Judge James Boasberg quashed subpoenas against Jerome Powell, labeling them harassment.
The Supreme Court indicated it will protect the Fed's independence.
Jeanine Pirro criticized Boasberg's ruling as an 'activist judge' and pledged to appeal.

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Story summary

Donald J. Trump, the U.S. President, publicly criticized Federal Reserve Chair Jerome Powell and pressed him to lower interest rates.
Powell says he will not resign until the investigation into the Fed's renovations concludes.
Judge James Boasberg quashed subpoenas against Jerome Powell, labeling them harassment.
The Supreme Court indicated it will protect the Fed's independence.
Jeanine Pirro criticized Boasberg's ruling as an 'activist judge' and pledged to appeal.