With his attacks on Federal Reserve Chair Jerome Powell and plans to fire him, US President Donald Trump has rattled investors and undermined the independence of the US central bank. This could severe economic consequences nationally and globally.

Former Treasury Secretary Lawrence Summers warned that President Donald Trump’s preference for the Federal Reserve’s interest-rate setting would trigger a surge in expectations for inflation, driving up long-term borrowing costs.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

Federal Reserve Chair Jerome Powell defended the bank's $2.5 billion headquarters renovation budget amid feud with Trump over interest rates.

A Fed policy rate that low is not typically a sign that the United States is the "hottest" country in the world for investment, as Trump has said. It is usually a crisis response to an economy in serious trouble.

San Francisco Federal Reserve President Mary Daly reiterated on Thursday it is "reasonable" to expect two interest rate cuts before the end of this year, particularly with the impact of President Donald Trump's tariffs looking more muted than originally expected.

US president’s offensive against Jay Powell has prompted swings in the dollar and lifted long-term inflation expectations

The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."