Trump already blamed Powell for the crime, currently

Put yourself in Powell’s shoes. The Fed is obligated to look at hard data, not surveys. And right now, there’s no major issue in the hard data. That’s exactly why the Fed has often found itself behind the curve.

If Powell were to call an emergency meeting and cut rates, markets might experience temporary relief—but if that move fuels inflation while growth deteriorates further, rendering monetary policy ineffective, what then? Would you want to go down in history as the Fed Chair who triggered a depression?

Also, right now the responsibility appears to lie with Trump. Why would Powell take that risk and shift the blame onto himself?

Let me tell you something economists know but investors don't know: recessions actually serve a purpose for economists—they’re part of the system’s reset mechanism. Some prominent economists even advocate for them. Do your research on this—it’s like a hidden backyard of macroeconomics.