Barclays: Firing Powell could backfire
2025-07-21 06:20:51
Barclays' interest rate strategy team warned in its latest report that sacking Federal Reserve Chairperson Jerome Powell would not accelerate the FOMC's rate cut process, but could trigger a policy backlash. "If market doubts about the independence of the Federal Reserve lead to higher inflation expectations and higher long-term yields, the FOMC may even extend the freeze cycle or resume interest rate hikes," the report pointed out. Strategists believe that even the appointment of a new Fed chairperson will be difficult to substantially ease monetary policy, as it still needs to reach a consensus with the other 11 FOMC voting committees. (Jin Ten)
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