Charles Schwab: Trump 'very much wants' to fire Powell and lower rates

Mars Finance News, on April 18, Kathy Jones, chief fixed income strategist at Charles Schwab Financial Research Center, stated that investors should not overlook the possibility of Trump trying to fulfill his threat to fire Powell, "It is very clear that he wants to fire Powell and lower interest rates." Although Powell reiterated on Wednesday that current laws protect Federal Reserve members from being dismissed by the White House for political reasons. However, an upcoming Supreme Court ruling may make it easier for Trump to do so. Analysts led by Krishna Guha from Evercore ISI warned that the ruling in Trump v. Wilcox could potentially weaken the independence of the Federal Reserve and other government agencies by expanding presidential power and allowing dismissals of institutions previously considered immune to political pressure. (Jinshi)