Powell as Shadow Fed Chair? How Trump Pressure Risks Backfiring
Jerome Powell during the Federal Reserve Board open meeting in Washington on June 25, 2025.
Photographer: Al Drago/BloombergThis article is for subscribers only.
I’m Chris Anstey, an economics editor in Boston, and today we’re looking at the latest tensions between the Trump administration and the US Fed chair. Send us feedback and tips to ecodaily@bloomberg.net. And if you aren’t yet signed up to receive this newsletter, you can do so here.
When the Federal Reserve failed to contain high inflation in the early 1970s, a trio of concerned economists established the “Shadow Open Market Committee” with the hope of influencing the broader debate over US monetary policy.