President Trump faces steep obstacles in his quest to sway the Federal Reserve toward his economic agenda. Trump will be able to replace Fed Chair Jerome Powell in less than a year and install a

A longtime lobbyist said Trump’s ongoing threats on Powell, while backing off of firing him, are a combination of “testing the waters to see how bad the backlash would be, his strong desire to get rates lowered [and] him working the refs — hoping to bully Powell and future chairs.”