Scholar: The White House is creating legal reasons for Powell's resignation.

Jin10 data, July 12 - The White House is pressuring Powell regarding the renovation of the Fed headquarters. An article by "Fed mouthpiece" Nick Timiraos indicates that Fed researchers say the latest developments, positively speaking, are a transparent attempt aimed at opening a new pressure front for the Fed, and negatively speaking, a dangerous step that creates legal reasons for Powell's removal. "We are at a critical moment in the history of the Fed," said Peter Conti-Brown, a scholar at the University of Pennsylvania who studies the Fed. "It is clear to me that the Trump administration is now using various mechanisms to fabricate a post hoc explanation for Powell's dismissal." Investors are paying attention to this because politically motivated dismissal of the Fed chair would break the established norms that have supported global confidence in the dollar for decades. "If President Trump and his allies launch such an attack on the Fed, they will bring serious instability to almost every aspect of the global economy," Conti-Brown said.