đąđşđ˛ For the First Time Ever, Fed Chair Powell Pushes Back đ˘
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 đ˘
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 ď¸ Trump vs. Powell is shaping up to be a major source of market volatility in the months ahead.
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