Investors flee US assets as Trump attacks Fed’s Powell and calls for rate cuts
Investors continued offloading US assets as the Trump administration seeks a way to dismiss Federal Reserve Chair Jerome Powell. Trump has demanded rate cuts, referring to Powell as “a major loser” in a social media post. The US dollar weakened to a three-year low.
READ MORE : http://www.euronews.com/2025/04/22/investors-flee-us-assets-as-trump-attacks-feds-powell-and-calls-for-rate-cuts
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Investors continued offloading US assets as the Trump administration seeks a way to dismiss Federal Reserve Chair Jerome Powell. Trump has demanded rate cuts, referring to Powell as “a major loser” in a social media post. The US dollar weakened to a three-year low.
READ MORE : http://www.euronews.com/2025/04/22/investors-flee-us-assets-as-trump-attacks-feds-powell-and-calls-for-rate-cuts
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
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00:00President Trump intensified his attacks on Federal Reserve Chair Jerome Powell on Monday,
00:05demanding immediate rate cuts and calling him a major loser.
00:10Trump warned of an economic slowdown and accused Powell of past political bias in a social media
00:15post. The attacks heightened fears over the Fed's independence, triggering sharp sell-offs across
00:21U.S. markets on Monday. Stock indices fell over 2 percent and the dollar index hit a three-year
00:27low while the euro and Swiss franc surged. U.S. Treasury yields jumped with the 10-year yield
00:33reaching 4.4 percent. Gold prices hit new record highs near $3,500 an ounce, fueled by dollar worries
00:42and risk aversion. The possibility of dismissing Powell by the Trump administration has been
00:47acknowledged by President's Advisor Kevin Hassett on Monday. Analysts warned that firing the Fed chair
00:55could unleash extreme market volatility and permanently damage the dollar's global status.
01:02Powell struck a cautious tone last week, signaling no rush to cut rates and warning about inflation
01:07driven by tariffs. While appointed by the President, Fed chairs have legally protected independence and
01:15can usually only be fired for cause. Powell's term ends in May 2026, but the current pressure raises
01:23significant concerns over financial stability appear to remain well anchored as well.