Scholar: The White House is creating legal reasons for Powell's resignation

According to a report by Jin Shi, the White House is putting pressure on Powell over the renovation of the Federal Reserve headquarters. Nick Timiraos, the "voice tube" of the Federal Reserve, pointed out in an article that Federal Reserve researchers say that the latest developments are at best a transparent attempt to open up a new pressure front for the Fed, or at worst, a dangerous step in creating legal grounds for Powell's resignation. We are at a critical moment in the history of the Federal Reserve, "said Peter Conte Brown, a scholar at the University of Pennsylvania who studies the Fed. In my opinion, it is clear that the Trump administration is now using various mechanisms to fabricate an after the fact explanation for Powell's dismissal. Investors have noticed this because the dismissal of the Federal Reserve Chairman for political reasons will break the established norms that have supported global confidence in the US dollar for decades. If President Trump and his allies launch such an attack on the Federal Reserve, they will bring serious instability to almost all aspects of the global economy, "said Conte Brown.