Photo: Alex Wong/Getty Images

The life of Federal Reserve Chairman Jerome Powell is going from bad to worse. Trump is furious that Powell is raising interest rates quickly and even called the Fed the "biggest threat" to a booming economy.

What's happening: According to a source familiar with Trump's thinking, the president feels the only way to get his message to Powell is by bashing him in the media. And I've heard nothing to suggest Trump will back off these attacks.

Another problem for the Fed: Trump's nominee for the central bank's board of governors, Nellie Liang, has significant problems with Republicans and may not even make it to the Senate floor for a vote.

  • A number of key Republican senators, including Pat Toomey on the Senate Banking Committee, have expressed doubts about her.
  • Liang favors strong regulations on banks and is a Democrat. It's unclear whether she can even make it out of committee.

The bottom line: "There's a better chance of seeing Elvis than of seeing her on the Fed," a source close to Republican leadership told me. Mitch McConnell is "not going to call a vote on somebody who has no support among Republicans. That's not how Mitch works."

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.