Bitcoin tops $120K as markets prepare for inflation data and a Powell ouster, with analysts warning of a modern-day 'Nixon shock' that could shake global confidence.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.

If President Trump gets his way and removes Jerome Powell as chairman of the U.S. Federal Reserve, the market reaction would be swift and brutal, Deutsche Bank’s George Saravelos argues. It could collapse the currency and bond markets,

National Economic Council Director Kevin Hassett said Sunday that the president’s authority to fire Federal Reserve Chair Jerome Powell was “being looked into.”Asked in an interview on ABC News’ “This Week” whether he believes President Donald Trump has the authority to fire Powell,

Potential removal of Fed Chair Jerome Powell could disrupt markets, spike inflation expectations, and impact the USD and bonds.

President Donald Trump has signaled he’s already looking to replace Federal Reserve Chair Jerome Powell far earlier than usual. Here’s how a so-called ‘shadow’ Fed would work, and why it could cause problems for markets.

Powell has been repeatedly criticized by the president over the U.S. central bank’s resistance to cut interest rates despite Trump’s demands to do so. In an interview with ABC’s “This Week,” Hassett was asked if the president has the authority to order Powell’s removal.

The JPMorgan CEO noted that tampering with the Fed’s autonomy could disrupt economic stability, calling such interference risky.