Federal Reserve Chair Jerome Powell has described former President Donald Trump's recent actions against the Federal Reserve as unprecedented, involving grand jury subpoenas linked to Powell's testimony about Fed building renovations. Trump has persistently pressured the Fed to lower interest rates and questioned Powell’s competence while claiming the right to remove Fed governors, challenging the institution's long-standing independence. These attacks risk destabilizing the U.S. dollar, the Treasury market, and could imperil the Federal Reserve's ability to set monetary policy based on economic evidence rather than political pressure.