Big Take cover image

Big Take

Can Trump Tell Powell ‘You’re Fired'?

Apr 21, 2025
Michael McKee, Bloomberg's international economics and policy correspondent, and Saleha Mohsin, senior Washington correspondent and host of The Big Take DC podcast, dive into the explosive tension between former President Trump and Federal Reserve Chair Jerome Powell. They discuss the legal ramifications of Trump's threats to fire Powell and explore how this conflict could destabilize the U.S. dollar and global markets. The episode further examines the risks posed to Federal Reserve independence and its impact on economic stability.
18:52
Creator website

Episode guests

Saleha Mohsin
Michael McKee

Podcast summary created with Snipd AI

Quick takeaways

  • Trump's ongoing threats against Fed Chair Powell threaten the independence of the Federal Reserve, potentially destabilizing financial markets and increasing interest rates.
  • Concerns about the U.S. dollar's status as the world's reserve currency are rising, fueled by political tensions and diminishing global confidence in American economic leadership.

Deep dives

The Tension Between President Trump and Jerome Powell

President Trump has maintained a contentious relationship with Federal Reserve Chair Jerome Powell, expressing dissatisfaction with Powell's decision-making related to interest rates. Trump publicly criticized Powell for not lowering rates in response to economic pressures, suggesting the Fed is lagging in its responses to market conditions. Their relationship, initially friendly when Trump nominated Powell, has since deteriorated to the point where the president has threatened to terminate him, leading to widespread speculation about the legality of such an action. The ongoing feud raises questions about the potential ramifications for market stability amid calls for a change in Fed leadership.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner
🤯 How amazing is this app?!
Sophie
App Store
Snipd helps me keep track of everything I resonated with from a show. I can always find my snips, listen to them again, share them. And there are so many great product updates regularly! Like the feature to chat with the episode: I can retrieve even more knowledge from an episode 🥹 I’m in love with this app 🤍
No 1 podcast app
Steven
App Store
I tried everything and snipd is the no 1 app for podcasts if you like to remember things. Just tap your headphones three times and a snipped is created, transcribed, and saved to you library.