In a stunning turn of events, former President Donald Trump is ramping up his pressure campaign to oust Federal Reserve Chairman Jay Powell, despite a recent Supreme Court ruling that effectively shields Powell from being fired without cause. Trump’s desperation is palpable as he reportedly brandishes a resignation letter for Powell, seeking to rally his MAGA supporters and Republican legislators to back his agenda.

The Supreme Court’s May ruling, which Trump’s allies had hoped to circumvent, made it clear that Powell’s position is fortified by legal protections. The six-three MAGA majority explicitly stated that the Federal Reserve operates under unique constraints that prevent the president from arbitrarily dismissing its leadership. This ruling has become a significant hurdle for Trump, who is determined to reshape the Fed’s policies to suit his economic agenda, primarily aimed at lowering interest rates and reviving his faltering economic legacy.

Trump’s tactics have included mobilizing MAGA influencers to attack Powell publicly, framing his leadership as a failure due to alleged overspending on the Fed’s renovation project. Behind the scenes, Trump is reportedly consulting with key figures in his administration, including potential replacements for Powell, as he pushes for a narrative of fraud surrounding the Fed’s operations.

The stakes are high: if Trump succeeds in forcing Powell out, analysts warn of a potential downgrade in the nation’s credit rating, which would have dire implications for everyday Americans. As Trump’s campaign intensifies, the pressure on Powell mounts, leaving many to wonder how long he can withstand the onslaught. With the economic stability of the country hanging in the balance, the coming days will be crucial in determining whether Powell will remain at the helm of the Federal Reserve or succumb to Trump’s relentless pursuit of control.