Trump Targets Powell, Dollar Slides to New Lows

Trump Targets Powell, Dollar Slides to New Lows

  • Trump targets : Trump attacks Fed Chair Powell again, calling him “terrible” for not cutting rates.
  • The dollar index falls 10% this year, marking its longest drop since 2017.
  • The euro hits its highest level since November 2021, and the Swiss franc reaches a 10‑year high.
  • Trump suggests he may pick a replacement for Powell as early as September, sparking fears about Fed independence.
  • Investors worry about Trump’s tariff policies and their impact on global growth and the dollar.
  • NATO agrees to ramp up defense spending, putting focus on defense stocks (Trump targets).
  • Shell denies talks to acquire BP after reports surfaced about a potential takeover.

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