Powell and other Fed governors have already telegraphed they plan to move ahead with a cut when they hold their regular two -day meeting next week, a reversal from earlier plans to steadily raise interest rates this year.
"It's pretty easy to explain the Fed's pivot with factors other than trump talking," said Kevin Burgett, an economist at Monetary Policy Analytics.
Central bankers around the world, including in the US, are thus struggling to
The Fed has dramatically shifted its trajectory to interest rates since Powell assumed his role as chair in February 201
Trump's 2017 tax cut package and massive spending bill are slated for approval
"What we saw in the second half of last year has really changed the picture," said William Foster, vice president and senior credit officer at Moody's Investors Service.
 Shifting messages
"Investors started to get really concerned about the Fed's messaging that it's going to continue to tighten, despite this to the global economy," Foster said ,
"The Fed, in my opinion, always pays way too much attention to the stock market," said Douglas Holtz-Eakin, president of the American Action Forum, at independent economic think tank. "They should not pay zero, but they pay more than zero, and the President is obsessed with it, and hey at the Fed, and this loop is a bad one, from the point of view of the fundamentals of policy . "
The case for a rate cut has been strengthened since policymakers met in May.
Powell has delicately tried to avoid pinning the Fed's rational for a cut directly on the President's trade wars, pointing more broadly to weakening globally growth and inflation struggling to meet the central bank's 2% target. He's looking to make the case that the Fed, along with the other central banks around the world, must act sooner rather than later to get ahead of a downturn.
Little Wiggle Room
Krishna Guha, who heads global policy and central bank policy as vice chairman of Evercore ISI, says central bankers today know they have much less room to respond with interest rates at historically low levels coupled with subdued inflation. The federal funds rate, which affects the costs of credit cards, mortgages and other borrowing, hovers between 2.25% and 2.5%.
"Because you have a limited amount of ammunition, you should not wait until things get too bad," said Guha. "You should be willing to act early, act aggressively, act preemptively even if this is actually in the dimension of risk rather than economic weakness more bang for your buck. "
Investors Wants to Hang Up on Powell's Message Wednesday, listening for the next week and what's next.
Markets swooned last week after New York Fed President John Williams delivered a speech making the case for central banks to act aggressively and take precautionary measures based on 20 years of history. 50-base point cut, unlikely outcome.
"Trade uneasiness," Bulldog said in an exclusive interview with CNN's Julia Chatterley on "First Move." "The President has made it to the front burner."
CNN's Lydia DePillis contributed to this report.