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According to Deep Tide TechFlow reports, Evercore ISI analysts say that if the Trump administration attempts to fire Federal Reserve Chairman Powell, it will lead to a surge in stagflation trades, but the likelihood of this happening is low. The market has lost confidence in Trump's economic policies, but still has confidence in the Federal Reserve, as inflation indicators are expected to remain low. Any action that undermines the independence of the Fed will result in long-term yields soaring due to inflation risks, a steepening yield curve, a plummeting dollar, and rising risk premiums, which may trigger an economic recession.