President Donald Trump’s ongoing frustration with the U.S. Federal Reserve reached a boiling point this week, as he threatened to take the drastic step of firing Jerome Powell, the chairman of the central bank. The U.S. Federal Reserve, a system designed to shield monetary policy from political influence, has come under fire from Trump, particularly over its approach to interest rates.

Trump has repeatedly criticized Powell for raising interest rates, arguing that such moves have been detrimental to the U.S. economy, particularly as the president seeks to maintain strong economic growth during his tenure. However, the Federal Reserve’s independence remains a core principle, and Trump’s threats to intervene represent an extraordinary challenge to that independence.

This development signals a deepening rift between the president and the central bank, with Trump’s dissatisfaction with interest rate decisions leading to a clash that could have significant implications for U.S. economic policy.