Federal Reserve Chair Jerome Powell shared that his preference for wearing a purple tie at press conferences initially stemmed from his personal liking for the color. However, during subsequent press conferences, he opted against blue or red ties, realizing the importance of symbolizing Fed independence through his attire. Powell emphasized the non-political nature of the Federal Reserve, contrasting the associations of red with Republicans and blue with Democrats. He reiterated their commitment to being nonpolitical, making purple a suitable choice for neutrality while also being a color he personally favored.

Despite Powell's efforts to maintain the Fed's independence, he faced pressure from President Trump to lower interest rates, as evident from the President's comments on Truth Social. Trump urged Powell to cut rates, citing favorable economic indicators and encouraging him to act promptly. While Trump had been critical of Powell during his previous term, his focus in his second term has shifted towards implementing aggressive trade policies, as reflected in his recent tariff decisions. Trump's tariff strategies, unexpectedly intense and broad in scope, underscore his commitment to fulfilling campaign promises and reshaping trade relations with various nations through tariffs.