President Trump's war on Federal Reserve chair Jerome Powell is taking on a more aggressive form, bringing Trump a step closer to trying to oust the head of the Fed. Why it matters: Trump wants Powell to cut interest rates, but he can't actually do so unilaterally – a committee of 12 decide together.

The Trump administration’s attacks on the Fed highlight the problems with the central bank’s discretionary moves. Remember ‘transitory’ inflation?

The move comes amid speculation that Trump, who has clashed with Powell over interest rates, might try to use the project to remove the Fed chief “for cause."