America’s next Fed chair is caught in a vice

Apr 12th 2026|Washington, DC|5 min read

RUNNING THE Federal Reserve is generally considered one of the world’s great jobs. Running America’s central bank with Donald Trump in the White House is a rather thornier proposition. Jerome Powell, the current chair, is the subject of regular presidential tirades. “Where is the Federal Reserve chairman, Jerome ‘Too Late’ Powell, today?” asked Mr Trump on Truth Social, his social network, as his war in Iran sent markets lurching lower last month. Mr Powell is also the subject of a spurious investigation by the Department of Justice (DoJ) into the bill for renovating the Fed’s headquarters.