Powell was appointed by Trump

Powell was appointed by Trump during his first term as President. The entire world knows the greed of Trump and how he was pressuring Powell to reduce the interest rates to promote investment. However, Powell resisted this as an independent decision maker to reduce inflation economy despite open threats of his removal by Trump. The new appointee Marsh may not be able to dictates of Trump as he has only a casting vote to lower or increase interest rates. If the interest rates go down then AI and Cripto shares will bounce but if investors lose confidence in independence of Federal Reserve it could be counter productive. Gulf war is impacting the world as such the market will see-saw on daily basis.

Markets Rebound Day After Rate Hike — What's Driving the Rally?

Stocks took back Wednesday's Fed day and more: QQQ +1.73% to $716.92, SPY +1.13% to $762.60, the S&P 500 +1.14% to 7,637.76, against Wednesday's 0.45% decline. The lift came from outside the Fed. Weekly jobless claims unexpectedly fell, which says the labor market is not cooling the way the rate path assumes, and oil kept sliding, easing inflation pressure. Yields fell and megacap tech led. The uncertainty everyone waited on is behind the market now. But the dot plot still points to one more hike this year, and only the hike already delivered is in the price. What is the market betting on?

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