Powell should resign to maintain Fed's independence
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Rep. Jim Himes (D-Conn.) said Sunday that a White House insider is warning President Trump of a “massive market reaction” if he fires Federal Reserve Chair Jerome Powell. “I mean, what
Deutsche Bank published an explosive research note over the weekend titled simply, “What if ?” (And yes, it includes that idiosyncratic use of extra spaces in front of the question mark.) Written by Global Head of FX Research George Saravelos,
We do not know if President Donald Trump will fire Jerome Powell from his job as chair of the Federal Reserve. We do know the financial markets do not much like the idea.
President Donald Trump’s attacks on Federal Reserve Chairman Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.
There's a chance Donald Trump won't get lower interest rates even after he finds a replacement for Fed Chair Powell, market pros told BI.
What was surprising though was how the market reacted to Powell’s words. When you look at the comparative one-day chart for the Nasdaq and Dow Jones ETFs, QQQ and DIA , a couple of things stand out.
Wall Street approved of President Joe Biden’s intention to nominate Jerome Powell for a second term at the helm of the Federal Reserve. But the initial jolt in the stock market didn’t last ...