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.

Jerome Powell has agreed to step down as chair of the Federal Reserve following relentless attacks from President Trump and his inner circle, according to a statement released by Billy Pulte, the current head of the U.