Donald Trump is showing why independent central banks are a good idea. The president’s double tirade against Federal Reserve Chairman Jerome Powell on Thursday conjured another dark cloud over financial markets and an economy repeatedly traumatized by his tariff and trade-war chaos.

Powell made the remarks while addressing the Economic Club of Chicago on Apr. 16. Powell added that the tariffs are highly likely to cause a rise in inflation, at least temporaril

Contrary to Trump's assertion that Powell would leave if asked, Powell, a former private equity investor with enough independent wealth to fund his own legal challenge, has said he has no plans to vacate the job before his term ends in May of next year.