President Donald Trump’s call for the “termination” of Federal Reserve Chair Jerome Powell landed Thursday as the Supreme Court is weighing a fast-moving appeal over two independent agencies that has increasingly become a proxy battle for control of the nation’s powerful central bank.

The remarks came a day after Powell voiced alarm about Trump’s tariff policy, saying it would likely hike inflation and slow economic growth. Powell indicated that the Fed may approach interest rates with restraint as policymakers observe the economic effects of Trump's tariffs.