Trump threatens to fire Fed chairman

This episode of World Business Report explores the escalating political clash between President Donald Trump and Federal Reserve Chair Jerome Powell, as Trump threatens to fire Powell unless he steps down by May 15th. The tension centers on Powell's resistance to lowering interest rates, which Trump argues would ease economic hardship, while economists warn that politicizing monetary policy risks inflation and financial instability. The episode also examines how Trump has weaponized a long-running renovation project at the Fed's Washington headquarters as a pretext for pressure, despite a federal judge dismissing the criminal investigation as baseless. Meanwhile, the global economy faces mounting risks from the Middle East conflict, with oil prices and energy shocks affecting markets, yet the S&P 500 remains near record highs—driven more by strong corporate earnings than geopolitical headlines. In Pakistan, the country’s newfound diplomatic role in Middle East peace efforts brings political visibility but also economic strain, including severe power cuts and inflation, while the nation seeks to strengthen its global image and attract foreign support. On a separate front, the EU’s new entry-exit system has caused chaos at European airports, with long queues and flight cancellations due to technical failures and overwhelming demand, especially from British travelers. Despite the disruptions, the episode underscores the resilience of markets and the enduring importance of institutional independence in economic governance.