Trump has ramped up pressure on Fed Chair Powell to cut rates. There's one big reason it probably won't work.

Trump is reportedly considering announcing a new Fed Chair as soon as this fall, people familiar with the matter told the Wall Street Journal this week.

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• Trump's pressure campaign on Fed Chair Powell probably won't work.
• Trump has bashed the Fed chair, and a report this week said he could announce his replacement early.
• But Powell will likely want to preserve the Fed's independence from politics, economic experts say.

President...