Powell won't do it, but Trump's new FED chairman will. Just wait until May 2026 to see this happen. Rate cuts are coming whenever we like them or not. That, combined with tariffs, will raise inflation all the way to the moon.
I'm beginning to think the US is on the brink of "hyperinflation". Meanwhile, China and the EU continue to grow without disruptions. They will strengthen economic ties, effectively leading us to a "New World Order". The ECB is cutting rates, while China is moving to other markets to keep its business afloat. Where does that leave the US? Alone, isolated from the rest of the world (America First). At least, that's how I see it. But I could be wrong. Maybe there's "light at the end of the tunnel"? I hope so. These are uncertain times, so anything's possible.
It is still uncertain whether Powell will be replaced by someone else (close to Trump). Because according to the US Constitution, the Senate is the body with the authority to decide who will be the chairman of the Fed , not Trump.
I don't like US dominance either but I don't think they will have hyperinflation or become so weak that they lose their superpower status in the near future . A new world order is emerging and becoming more evident with the rise of BRICS and countries increasingly not wanting to depend on the US, but we need to accept the fact that they will still be the superpower in the next 1 or 2 decades .