AI Summary

President Donald Trump has made it clear that he intends to pressure the Federal Reserve and other independent U.S. institutions to align with his agenda. Jerome Powell, who stepped down as Fed chair this week, has been praised for steering the economy through a “soft landing” after the pandemic, curbing inflation without triggering a recession or harming employment. Despite the chaotic backdrop of pandemic recovery and tariff disputes, Powell’s legacy is likely to be defined by his outspoken defense of the Fed’s independence against Trump’s attempts to undermine it.

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