Bank of America: Doubts about the independence of the Federal Reserve put pressure on the dollar, and market concerns exacerbated the easing trend
2025-07-24 14:43:16
Alex Cohen, strategist at Bank of America, said uncertainty over the future of the Fed's leadership was undermining the dollar's performance, with concerns "clearly affecting the dollar earlier than other assets" and likely to be the main drag on the dollar's slow rebound. "Even if future leadership changes take place in a more conventional manner, markets are starting to anticipate a more accommodative Fed environment," Mr. Cohen said. Mr. Trump has continued to press Fed chairperson Jerome Powell to cut interest rates and is scheduled to visit Fed headquarters today, further highlighting signs of political interference.
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