Watch live coverage as stocks react once again after National Economic Council director Kevin Hassett said Friday that President Trump was studying if removing Fed Chair Jerome Powell was a possibility. (Markets were closed Friday for Good Friday.) Monday’s sell-off also comes hours after President Trump continued to ramp up his attacks on the Fed Chair on social media, calling him a “major loser” and demanding that he “lowers interest rates, NOW.” Powell has repeatedly said that he would not leave his role if ordered to by President Trump. However, the recent Supreme Court ruling on independent agencies has raised the eyebrows of analysts and economists. Economists, analysts, market participants, and central bankers of all political persuasions widely agree that the independence of the U.S. central bank is key to maintaining a stable economy. In referring to the slowing economy, Trump may be becoming more attuned to the negative shock his tariffs strategy is creating to growth. A growing chorus of Wall Street firms and analysts increasingly foresee the U.S. economy entering a recession.
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LIVE: U.S. markets react as Trump’s Powell attacks add to investors’ concerns