Barely a day after declaring victory in the US election, President-elect Donald Trump is facing his first revolt from the establishment.
The world's most powerful central banker has thrown down the gauntlet at the soon-to-be world's most powerful leader, in a struggle between dominance and independence that could define the future of Trump's second tour of the White House.
Federal Reserve chairman Jerome Powell, just hours after delivering Trump's yet to be formed administration a gift in the form of a 0.25 percentage point interest rate cut, declared he was sticking around to serve out his term and the president-elect could not remove him.