NEW YORK — Stocks tumbled Monday after President Donald Trump issued a stern ultimatum to Federal Reserve Chair Jerome Powell, declaring that interest rates must be lowered “right now or else.” Investors reportedly flinched after Trump posted an image of a tiny plastic chair captioned “For Bad Bankers Only,” rattling Wall Street confidence.
The Dow, S&P 500, and Nasdaq all slipped to their lowest levels in over a week as traders scrambled to understand whether Trump’s threats were economic policy or a late-stage tantrum. Aides say Trump has recently been seen drawing sad faces next to Powell’s name on briefing folders, which some describe as a clear sign of fiscal strategy.
The President’s remarks come after a White House adviser confirmed Friday that Trump’s team is “just looking into” whether firing the Fed chair is possible, legal, or punishable by jail time. Analysts warn this could dangerously blur the lines between economic independence and reality TV plotlines. Still, some investors remain unfazed, citing precedent.
Powell, who reportedly responded by quietly sighing into a stack of spreadsheets, has not issued a public statement. However, sources close to the Federal Reserve say the mood is somewhere between “bracing for impact” and “practicing mindfulness breathing.” For now, Wall Street awaits Trump’s next signal with mounting dread.
Some Republican lawmakers have suggested Powell should be more “supportive of freedom,” which they define as allowing Trump to run the central bank from a golf cart. As markets continue to flail under the weight of suggested executive overreach, a Goldman Sachs analyst remarked that “free markets don’t exist, but now we’re nostalgic for the illusion.” Stocks fell another 200 points following that sentiment’s publication on X.
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