Donald Trump is showing why independent central banks are a good idea. The president’s double tirade against Federal Reserve Chairman Jerome Powell on Thursday conjured another dark cloud over financial markets and an economy repeatedly traumatized by his tariff and trade-war chaos.

Trump's comments further pointed to a diminished appetite for sharply higher across-the-board tariffs on dozens of countries after markets reacted violently to their introduction on April 2.

When US President Donald Trump hit China with tariffs in his first term, Vietnamese entrepreneur Hao Le saw an opportunity. His company is one of hundreds of businesses that have emerged to compete with Chinese exports that have increasingly been facing restrictions from the West.

Trump imposed 10% tariffs on goods from all countries and higher tariffs for countries the administration says have high barriers to U.S. imports, most of which he later paused for 90 days. He also imposed a 145% tariff on China,

Gov. Gavin Newsom, who has tussled with Donald Trump over the years, described the president's tariffs as "unlawful."

California is taking on President Donald Trump - from immigration to economics, to the future of the Democratic party, the biggest national battles are playing out right here in the Golden State. FOX 11's Elex Michaelson,