Trump, Jerome Powell and Fed
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If President Trump gets his way and removes Jerome Powell as chairman of the U.S. Federal Reserve, the market reaction would be swift and brutal, Deutsche Bank’s George Saravelos argues. It could collapse the currency and bond markets,
Top voices on Wall Street have expressed alarm over the idea that Trump could fire Fed Chair Jerome Powell, emphasizing the need for Fed independence.
A potential ouster of Federal Reserve chair Jerome Powell by U.S. President Donald Trump could "collapse" both the currency and bond markets and would lead to a spike in inflation expectations, Deutsche Bank said on Friday.
Reports that President Trump was considering trying to remove Federal Reserve Chair Jerome Powell have had a clear, if modest, effect on the bond market—even after Trump told reporters that he [wasn’t “planning on doing anything.