Fact checked by Stella Osoba As President Donald Trump escalated attacks during his second administration on U.S. Federal Reserve Chair Jerome H. Powell—calling him a "major loser" and suggesting his "termination cannot come fast enough"—the Fed chair's role has become as politically charged as it is financially consequential for everyday

The president’s about-face on the central bank chief, following advice from his treasury and commerce secretaries, sent markets surging.