Trump's assault on the Fed could spark lasting chaos

JAMES MOORE

- JAMES MOORE

The puerile president wrote on social media: “There can be a SLOWING of the economy unless Mr Too Late, a major loser, lowers interest rates, NOW.”

In recent days, such has been the ferocity of Trump’s personal attacks on Powell over his handling of the US economy that, on Monday, the value of the dollar sank to its lowest point in three years. Stocks, already bruised by the “Trump Slump” from global tariffs, have taken a further hit.

The central bank boss is in Trump’s crosshairs because the Federal Open Market Committee (FOMC), the equivalent of Britain’s rate-setting Monetary Policy Committee (MPC), has been sitting on its hands at a time when the American economy is grappling with turbulence created by… well, guess who?