đ±đșđČ For the First Time Ever, Fed Chair Powell Pushes Back đą
For the past 12 months, Fed Chair Jerome Powell has stayed silent despite repeated criticism from President Trump. Whenever questioned, Powellâs response was simple:
âI do not have any response or comment.â
Today, that silence ended.
Amid reports of a new criminal probe by federal prosecutors, Powell stated that this âthreat is a consequence of not following the preferences of the President.â đą
Markets reacted immediately.
đ U.S. stock futures dropped more than -0.5% following his remarks.
This comes at a sensitive time, as the Federal Reserve is widely expected to pause rate cuts again on January 28th.
With only six months remaining in his term, Powell appears to be taking a firm stand in defense of Federal Reserve independence.
â ïž Trump vs. Powell is shaping up to be a major source of market volatility in the months ahead.
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