US EditionAsian shares are mostly higher after Trump says he discussed firing Fed Chair Powell
UNITED STATES, JUL 17 – Trump's threat to remove Fed Chair Powell over policy disputes sparked market volatility, with analysts warning it risks undermining Federal Reserve independence and global financial stability.
- Thursday’s trading in Asia saw gains as President Donald Trump said he discussed firing the Fed Chair but was unlikely to do so.
- Trump’s policy clashes stem from, and reflect ongoing disagreements over, the Fed’s interest rate policies, the Fed headquarters renovation, and tariffs affecting markets.
- During the morning session, stocks initially rose before firing reports sent the S&P 500 down 0.7%, accompanied by the U.S. dollar rising to 148.46 yen.
- Following his denial, stocks remained near record highs and the dollar stabilized after Trump’s clarification.
- Legal experts warn that any attempt by Trump to remove Powell could lead to a court battle, posing future legal and regional risks for Asia’s export-led economies.
38 Articles
38 Articles
To see why markets hate Trump's Fed meddling, look at Turkey
President Donald Trump, accompanied by Turkish President Recep Tayyip Erdogan, speaks in the Roosevelt Room of the White House in Washington Tuesday, May 16, 2017.Evan Vucci/APTrump's plan to fire Fed Chair Powell spooked investors this week.Experts warn Trump's actions could undermine Fed independence and cause inflation to rise again.Turkey's inflation crisis is an ongoing example of the risks of political interference in monetary policy.Inves…
3 ways Trump trying to fire Powell could backfire | News Channel 3-12
By John Towfighi and Bryan Mena, CNN New York/Washington (CNN) — If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets. For now, the likelihood of the president actually moving to oust the head of the central bank remains low, due to the legal hurdles required. That’s partly why investors have seemingly grown numb …
Investors on edge as Trump keeps feud with Powell alive, fuels fears of Fed independence
With his attacks on Federal Reserve Chair Jerome Powell and plans to fire him, US President Donald Trump has rattled investors and undermined the independence of the US central bank. This could severe economic consequences nationally and globally.
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