Trump-Powell Feud: Fed Chair Steps Down

0:00On April 29, Donald Trump and Federal Reserve Chair, Jerome Powell have had one of the most heated rivalries between a president and a central banker. Ever. Trump first picked Powell for the job back in November 2017, praising him as strong and smart. But since returning to the White House as the 47th president, Trump has ripped into him nonstop over interest rates, not dropping fast enough. Trump has thrown around nicknames like NumSco, Moron, and Dummy whenever the Fed held off on cuts. The central bank did slash rates three times in 2025, but stayed cautious, watching how Trump's trade tariffs might fuel inflation. Trump vented on social media and impressors, calling Powell too late and too political, claiming he's costing the country trillions. People close to the action saw the tension up close during a spat over renovating Federal Reserve buildings. The two clash face-to-face and hardhats with Trump pulling out papers to prove cost ballooned. While Powell pushed back on the numbers, Trump even said he'd fire anyone mismanaging

1:04a project like that from his real estate days. Lately, worries about the Fed's independence spiked when the Department of Justice launched a probe, drawing heat from senators like Tom Tillis, who? Pause support for Trump's nominee, Kevin Worsh. But earlier this month, the DoJ dropped the investigation, clearing the path. Now Powell stepping down to let Worsh take over, wrapping up years of bad blood, that showed just how tricky it is to balance politics and the economy's steady hand. That's the story for today, Global News Today, Driven by AI.