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President Donald Trump has signaled he’s already looking to replace Federal Reserve Chair Jerome Powell far earlier than usual. Here’s how a so-called ‘shadow’ Fed would work, and what it means for markets and consumers.
Chapters:
0:00 President Trump vs. Fed Chair Powell
0:41 How a ‘Shadow’ Fed would work
2:25 Risks
4:22 Who Trump could replace Powell with
5:30 What’s next?
News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.
#Trump #Fed #WSJ
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2025/07/14
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