Confused about Trump’s tariff war? There’s a good reason for that
CNN
It’s been a wild few days for the US economy.
It’s been a wild few days for the US economy. President Donald Trump’s jabs at Federal Reserve Chair Jerome Powell are affecting markets. Investors are ringing alarm bells with the assets they’re buying and mostly selling – and suddenly making comparisons to the Great Depression. And everyone from the International Monetary Fund to Trump’s billionaire friends are issuing stark warnings about his massive tariffs. Here’s what you might have missed this week. Presidential relationships can change, but Trump has taken that to an extreme. After calling the Fed chair (whom he appointed in 2018) “a major loser” whose “termination cannot come soon enough last week, Trump seemed to soften up on Tuesday. He said he had “no intention” of firing Powell after advisers warned that terminating the central bank chief would backfire legally and economically, sources familiar with the matter told CNN. But the president’s outlook soured by Wednesday.
