Why Trump wants to ouster his own appointee, Jerome Powell, from the Fed chair—and why the rest of the world is rooting for Powell to stay put.

Guest: Liz Hoffman, Semafor’s business and finance editor, host of Semafor’s World Economy Summit, and author of Crash Landing: The Inside Story of How the World’s Biggest Companies Survived an Economy on the Brink.

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Podcast production by Elena Schwartz, Paige Osburn, Anna Phillips, Madeline Ducharme, Ethan Oberman, and Rob Gunther. Learn more about your ad choices. Visit megaphone.fm/adchoices