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Serious Question: What would happen if Trump fired Powell?
He would need to find another job I presume. -
42
So, I got Shingles
Big outbreak in the Philippines now. It's only a matter of time till it gets to Thailand. -
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Serious Question: What would happen if Trump fired Powell?
The quoted text below is from the article linked below, quoting an opinion about what might happen to the value of the dollar, equities, treasuries, and pretty much every other US asset in the financial markets if Trump fired Powell. It sounds like a pretty ominous prediction, but I’m wondering how realistic it actually is. Do the markets really care that much about Jerome Powell and his job, or whether the Fed has independence? I’m not sure what to think of the prediction. In my opinion, I don’t think investors are that concerned about the Fed having independence. In fact, a lot of investors don’t really like what the Fed does anyway, so perhaps the market would actually cheer it if Trump fires Powell and cuts interest rates by 200 basis points overnight. I realize there’s a lot of volatility in the market right now, which might suggest that the market is fearful of Powell being fired. That would indicate a possible negative response to his actual firing, but maybe the volatility is just due to the uncertainty. After Powell was fired, maybe the markets would stabilize and find a bottom following an initial sell-off. I don’t really know, and I’m not claiming to know, but I’d be interested to hear some other opinions, especially if anyone has any real understanding of the market dynamics of it beyond armchair speculation. --- Quoting the article: “Were Powell to be fired, the initial reaction would be a huge injection of volatility into financial markets, and the most dramatic rush to the exit from U.S. assets that it is possible to imagine,” said Michael Brown, a senior research strategist at Pepperstone, an Australian-based provider of trading services. “Lower, much lower, equities; Treasuries sold across the board; and, the dollar falling off a cliff,” Brown wrote in a note on Monday. Any sign of the longstanding, independent nature of the Fed coming under threat “would see investors across the globe selling every single U.S.-based asset that they have, and also poses the genuinely scary prospect of upending the entire way in which the global financial system operates. If this were to happen, then the reserve status of the dollar, and haven value of Treasuries, would be wiped out, probably forever in both cases.” --- Source: https://www.marketwatch.com/story/what-the-fire-powell-trade-could-look-like-as-trump-attacks-fed-chair-again-53511c3b -
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New Restaurant in the Wongamat Beach Area - Lunar Beach House
I have moved to Pattaya forum -
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Hegseth Said to Have Shared Attack Details in Second Signal Chat
At no time has ANY spokesperson denied either Signal chat happened. They HAVE repeatedly blamed the media for this "fake news." Sorry Pete, your bs no longer passes the smell test. Get yourself gone before you're "disappeared" to an El Salvadoran prison. -
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