BlockBeats news, on April 18, Kathy Jones, chief fixed income strategist at Charles Schwab’s Financial Research Center, stated that investors should not overlook the possibility that Trump may try to fulfill his threat to fire Powell, “He is very eager to fire Powell and drop the Intrerest Rate, that is very clear.” Although Powell reiterated on Wednesday that current laws protect Federal Reserve members from being fired by the White House for political reasons. However, an upcoming Supreme Court ruling may make it easier for Trump to do so. Analysts at Evercore ISI, led by Krishna Guha, warned that a ruling in the case of Trump v. Wilcox could undermine the independence of the Federal Reserve and other government agencies by expanding presidential powers, allowing for the firing of agencies previously thought to be insulated from political pressure. (Jin10)
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Charles Schwab: Trump "really wants" to fire Powell and drop the Intrerest Rate.
BlockBeats news, on April 18, Kathy Jones, chief fixed income strategist at Charles Schwab’s Financial Research Center, stated that investors should not overlook the possibility that Trump may try to fulfill his threat to fire Powell, “He is very eager to fire Powell and drop the Intrerest Rate, that is very clear.” Although Powell reiterated on Wednesday that current laws protect Federal Reserve members from being fired by the White House for political reasons. However, an upcoming Supreme Court ruling may make it easier for Trump to do so. Analysts at Evercore ISI, led by Krishna Guha, warned that a ruling in the case of Trump v. Wilcox could undermine the independence of the Federal Reserve and other government agencies by expanding presidential powers, allowing for the firing of agencies previously thought to be insulated from political pressure. (Jin10)