Can Trump Fire Jerome Powell? Fed Chairman Says He Won’t Resign If Trump Asks
ForbesOCT 2024
The market rally reflects strong confidence in Trump's pro-business agenda, including proposed tax cuts and deregulation policies that could boost corporate profits and economic growth. The combination of Fed rate cuts and Trump's business-friendly policies creates an optimal environment for risk assets and continued market expansion.
The Federal Reserve maintains its independence and data-driven approach, regardless of political changes. The central bank's focus remains strictly on its dual mandate of price stability and maximum employment, with Powell emphasizing that election outcomes have no immediate effect on monetary policy decisions.
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