TRUMP VS POWELL: FED INDEPENDENCE UNDER FIRE 🚨📉
🔥 US MARKET VOLATILITY SPIKES AS TRUMP TARGETS FED CHAIR POWELL!
Rumors swirl over Trump's desire to remove Powell amid rate tension. While firing over policy isn't legal, Trump may be probing Powell’s handling of the Fed HQ renovation for “cause.” A Shadow Fed Chair idea gains traction 🤔👤
📊 Key Market Moves:
US 30-Yr Yield: Breaks above 5% for 2nd day, eyeing 5.15% & 5.18% highs
S&P 500: Dropped nearly 1% intraday before closing +0.32%
EUR/USD: Spiked above 1.17, settled near 1.1640 💶💵
📌 Most Fed officials back Powell’s stable rate stance due to sticky inflation.
📌 NY Fed sees tariffs & weaker dollar pushing inflation higher through 2026.
📌 Trump’s pressure may backfire, lifting long-term rates further 📈
⚠️ Markets sensitive to any move suggesting Powell’s ousting—could spark asset fire-sale!
🇬🇧 UK data hints BoE may cut rates 25bps in Aug, but GBP rallies are sell opportunities.
📅 Watch Today:
US retail sales, jobless claims & Philly Fed outlook—limited impact expected.
👉 DYOR, stay alert — politics & policy are colliding hard! 💥
