On Monday morning, Trump again lashed out at Powell on his Truth Social, calling the Fed chair "a major loser" and demanding he lower interest rates "NOW." The stock market, which had begun to calm from tariff-induced panic, quickly plunged, with the S&P 500 closing down 2.3%.

Last week, the president said Federal Reserve Chair Jerome Powell's "termination cannot come fast enough!" Days later, Trump said he has "no intention" of firing him.