President Trump's attacks on Federal Reserve Chairman Jerome Powell have been relentless. We discuss what it would mean if the United States no longer has a politically independent Federal Reserve. We also dive into the potential effects of looming tariffs.

This episode: political correspondent Sarah McCammon, finance correspondent Maria Aspan, and senior national political correspondent Mara Liasson.

This podcast was produced by Bria Suggs and edited by Rachel Baye. Our executive producer is Muthoni Muturi.

Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.

After days of market turmoil, President Trump walked back some tariffs on some countries, but kept a near universal 10 percent tariff in place and increased tariffs on goods from China. What's behind the president's decision, and will markets continue to stomach such uncertainty?

This episode: White House correspondents Asma Khalid and Franco Ordoñez, and finance correspondent Maria Aspan.

The podcast is produced by Bria Suggs & Kelli Wessinger and edited by Casey Morell. Our executive producer is Muthoni Muturi.

Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.