Trump’s clash with the Fed echoes emerging-market politics

President Donald Trump’s sustained pressure on the Federal Reserve—public criticisms, moves to sack a top policymaker, and a DOJ probe—has drawn banana-republic comparisons to Argentina and raised concerns about central-bank independence and inflation risk. While markets have been relatively calm, economists warn political meddling can anchor higher inflation expectations; the story unfolds as the Supreme Court weighs the Cook firing and Trump’s choice to replace Powell ahead of Powell’s term end in May.