If Trump Fires Powell, Will Market Collapse?
Powell rejected all hints at rate cuts on Wednesday. He emphasized that the Fed must ensure tariffs do not spark persistent inflation, stating that "more time is needed" to assess inflation trends. He also dismissed the idea of a Fed Put.
On his social media platform Truth Social, Trump lashed out: "Powell is TOO LATE AND WRONG..…Powell’s termination cannot come fast enough!"
Powell’s term as a Fed governor is set to last until February 2028.
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What Happens If Trump Fires Powell?