Home / Business / Jerome Powell, President of the Federal Reserve, is tirelessly trying to fight his big tyrant – Trump

Jerome Powell, President of the Federal Reserve, is tirelessly trying to fight his big tyrant – Trump



Federal Reserve Chairman Jerome Powell is doing everything in his power to counter market concerns, and monetary policy is guided by President Donald Trump's Twitter feed.

Obviously, a very active presidential Twitter account dictating interest rates would not be good for the markets at any time.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" I give Powell a lot of credit – a lot of people would have said that he is indebted [to Trump], Matt Maley, Miller Tabak's seasoned strategist, said about Yahoo Finance & nbsp;The first trade. "I think Powell has a lot more backbone than many people attribute to him." Data-reactid = "17"> "I give Powell a lot of credit – a lot of people would have said that he was indebted. [to Trump]Miller Tabak's experienced quarterback Matt Maley said on Yahoo Finance's The First Trade. "I think Powell has a lot more backbone than many people attribute to him.

Others around Wall Street seem to agree with Maley.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" It was very consistent about the l-39 independence of the Fed like all members of the Fed's board of governors, "& nbsp;Libby Cantrill, public policy manager at Pimco, told Yahoo Finance. "data-reactid =" 19 ">" He was very consistent about the independence of the Fed, like all members of the Fed's board of governors, "said Libby Cantrill, public policy officer at Pimco, Yahoo Finance.

"This president has a very unconventional approach with the Fed, it goes without saying. But from a market point of view, reaffirming the Fed's independence is absolutely helpful, Cantrill added.

<p class = "canvas-atom-text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In addition to going directly into the remarks prepared in the House US representatives on Wednesday and reiterating the Fed's independence, & nbsp;Powell again stated that he had no intention of being deported& nbsp; by the lowering of interest rates required by Trump, if asked. "data-reactid =" 21 "> In addition to expressing himself in remarks prepared in front of the US House of Representatives and reiterating the Fed's independence, Mr. Powell once again declared that he had no intentions of being repelled by the low interest rate seeking Trump if he was asked.

<p class = "canvas-canvas-text canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" Of course, I would not, "& nbsp;Powell told rep Maxine Waters& nbsp; (D-CA) Wednesday when he was urged to leave when he was invited by Trump. "What I said is that the law gives me a four-year term and I intend to serve it." Data-reactid = "22"> "Of course, I would not not, "Powell told Rep. Maxine Waters (D-CA) Wednesday when it was urged to leave him if he was asked by Trump." What I've said is that the law gives me a four-year term and that I have every intention of serving it. "

This is an answer that Powell has learned to use in recent months when he investigated his relationship with Trump.

Stock market rally

With regard to the stock market, it is likely that the battle between Trump and Powell will begin in the near future.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The S & P 500 (^ GSPCThe rally continued this week, with the index crossing the 3,000 mark as Powell gave the legislators a new dovish tone before the next FOMC meeting on July 30-31. Meanwhile, the & nbsp;The Dow Jones Industrial Average Index overshadowed 27,000 on Thursday& nbsp; while Powell maintained his accommodating attitude in a testimony in the Senate. "data-reactid =" 26 "> The S & P 500 (^ GSPC) rally continued this week Legislators before the next FOMC meeting on July 30 and 31, 2009. Meanwhile, the Dow Jones Industrial Average eclipsed 27,000 on Thursday as Powell maintained his accommodating stance in his Senate testimony.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Risk areas of the market – technology particularly valued actions such as Amazon (AMZN) and Apple (AAPL) – continue to merge with the prospect of an even cheaper offer from the Fed. "Data-reactid =" 27 "> Market Risk Zones – including popular technology stocks such as Amazon (AMZN) and Apple (AAPL) – continue to merge with the prospect of getting even better money from the Fed market.

"Powell does what he thinks is good for the economy and what the Federal Reserve's management thinks is good for the economy. I think he's going to continue doing that, "said Maley.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Brian Sozzi is an editor and co-host ofThe first trade'At Yahoo Finance. Follow him on Twitter @BrianSozzi"data-reactid =" 29 ">Brian Sozzi is an editor and co-host ofThe first trade'At Yahoo Finance. Follow him on Twitter @BrianSozzi

Morning broadcast live from Yahoo Finance.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read the latest financial and commercial news from Yahoo Finance"data-reactid =" 43 ">Read the latest financial and commercial news from Yahoo Finance

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