Welcome To The Jungle.
Trump’s simmering resentment towards Fed chairman Powell for not bowing to his demands for an immediate interest rate cut was set off again over the weekend by a widely-read pro-Powell opinion article in the Wall Street Journal which described the president’s tariff policy as a “tax” and an “error”.
One analyst described any undermining of the Fed’s sacred independence as a “welcome to the jungle” moment that would accelerate the increasingly popular “Sell America” trade and be extremely damaging to US financial markets. While Wall Street does not currently believe that Trump will ditch…
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