Trump Administration Threatens Fed Chair and Proposes Credit Card Rate Cap

The Trump administration has made a bold move by threatening to indict Federal Reserve Chair Jerome Powell jerome powellover his Congressional testimony regarding a renovation project. This unprecedented action has been coupled with a proposal to cap credit card interest rates at 10% for one year, effective January 20, 2026. These announcements have sparked significant market turmoil, particularly affecting financial sector stocks, and have raised serious questions about the independence of the Federal Reserve at a time when the markets had just reached record levels.