Darian Woods

We asked both the NIH and the White House if they were concerned. The NIH responded that it is committed to fostering a vibrant biomedical research workforce. And White House spokesperson Kush Desai said the Trump administration had been reviewing the previous administration's projects, identifying waste and realigning research spending to maintain America's innovative dominance.

As for Armando, the entomologist, he reflected on all the chaos that he's been seeing, and he decided, yeah, he's going to take that PhD offer in the UK. And he actually moves in September. So what is the U.S.

As for Armando, the entomologist, he reflected on all the chaos that he's been seeing, and he decided, yeah, he's going to take that PhD offer in the UK. And he actually moves in September. So what is the U.S.

As for Armando, the entomologist, he reflected on all the chaos that he's been seeing, and he decided, yeah, he's going to take that PhD offer in the UK. And he actually moves in September. So what is the U.S.

losing by having Hollywood consultant, entomologist, union leader Armando Rosario LeBron leave the U.S.?

losing by having Hollywood consultant, entomologist, union leader Armando Rosario LeBron leave the U.S.?

losing by having Hollywood consultant, entomologist, union leader Armando Rosario LeBron leave the U.S.?

And that's not even taking into account the creepy crawlies that we lose from TV shows. I think Gordon Ramsay will be happy about that.

And that's not even taking into account the creepy crawlies that we lose from TV shows. I think Gordon Ramsay will be happy about that.

And that's not even taking into account the creepy crawlies that we lose from TV shows. I think Gordon Ramsay will be happy about that.

This is Planet Money from NPR. Over the past week, President Donald Trump has gone from threatening to oust Jerome Powell, the chair of the Federal Reserve, to saying he has no intention of firing him.

This is Planet Money from NPR. Over the past week, President Donald Trump has gone from threatening to oust Jerome Powell, the chair of the Federal Reserve, to saying he has no intention of firing him.

This is Planet Money from NPR. Over the past week, President Donald Trump has gone from threatening to oust Jerome Powell, the chair of the Federal Reserve, to saying he has no intention of firing him.

And though so far Trump hasn't taken any action to dump Powell, every time Trump's anger at the Fed chair flares, markets quiver and economists start flipping out. Because they say the Fed has to be independent. It has to focus on keeping the economy healthy. And that process must be free from politics and pressure. It needs to just focus on what's right for the economy. But why exactly?

And though so far Trump hasn't taken any action to dump Powell, every time Trump's anger at the Fed chair flares, markets quiver and economists start flipping out. Because they say the Fed has to be independent. It has to focus on keeping the economy healthy. And that process must be free from politics and pressure. It needs to just focus on what's right for the economy. But why exactly?

And though so far Trump hasn't taken any action to dump Powell, every time Trump's anger at the Fed chair flares, markets quiver and economists start flipping out. Because they say the Fed has to be independent. It has to focus on keeping the economy healthy. And that process must be free from politics and pressure. It needs to just focus on what's right for the economy. But why exactly?

Hello and welcome to Planet Money. I'm Darian Woods.

Hello and welcome to Planet Money. I'm Darian Woods.

Hello and welcome to Planet Money. I'm Darian Woods.

Today on the show, a primer on the Fed. From the Indicator podcast, we have three ways of looking at that question for you today. We'll look at what the Fed does, why its independence is so important, and one quieter step President Trump has taken to influence the Fed this year. The Federal Reserve, the US central bank, has two big goals, keeping prices stable and jobs plentiful.