During Trump's campaign, he said he should be consulted on the Fed's interest-rate decisions. Fed Chair Jerome Powell did not ignore these remarks, and he made it clear that he would not resign if Trump asked him to do so - on the grounds that the president does not have the legal authority to remove him from office. These developments set the stage for a confrontation between the Fed and the incoming president, and TS Lombard economist Dario Perkins believes Powell will have the upper hand.
"Now that we face a larger confrontation between populists and bond vigilantes, many expect a clash between Trump and Powell," Mr. Perkins wrote. "If Trump challenges the Fed, it is conceivable that Powell may'weaponize 'the bond market to teach Trump a lesson."
Analysis: If Trump challenges the Federal Reserve, Powell will have the upper hand
2024-11-26 02:30:07
Trump during the election campaign had said that the Federal Reserve interest rates decision-making should soliciteddesk3cryptocurrencydesktopCrypto News
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