Trump Administration Faces Scrutiny Over Fed Independence, Trade Policies, and Immigration Enforcement
Washington, D.C. – The Trump administration faced scrutiny on multiple fronts this week, including concerns over the independence of the Federal Reserve, trade relations with U.S. allies, and immigration enforcement policies.
Federal Reserve Chair Jerome Powell addressed concerns about the central bank's independence following a decision to hold interest rates steady on Wednesday, January 28, 2026. "We haven't lost it. I don't believe we will. I certainly hope we won't," Powell stated during a press conference, according to Fortune. His comments came after the Justice Department served the Federal Reserve grand jury subpoenas targeting Powell over his June 2025 congressional testimony regarding the $2.5 billion renovation of the Fed's headquarters, according to Fortune. President Trump has also publicly criticized the Fed for not cutting rates more aggressively, viewing it as a hindrance to economic growth, Fortune reported.
Meanwhile, some U.S. allies are reportedly seeking trade deals with China and India in response to President Trump's tariffs and trade rhetoric, NPR News reported on January 28, 2026. These countries are looking to diversify their trade ties away from the United States, according to NPR News.
On the domestic front, President Trump rallied business leaders to support "Trump Accounts" for newborns, Time reported. The initiative, part of the "Big Beautiful Bill," provides $1,000 to every American child born between 2025 and 2028, to be invested in the S&P 500, according to Time. "Even people that truly hate me are making this investment," Trump said at an event in Washington, D.C., Time reported.
In Minneapolis, activists are calling for a nationwide general strike on Friday, January 30, to protest President Trump's immigration policies, Time reported. The call for a strike follows the fatal shootings of two people by federal agents in Minneapolis, Time reported. The "National Shutdown" campaign is urging people to abstain from school, work, and shopping to protest Immigration and Customs Enforcement (ICE) operations, according to Time. Thousands of Minnesotans previously participated in a similar strike after an ICE officer shot a 37-year-old mother of three earlier in January, Time reported.
Discussion
Join the conversation
Be the first to comment