Trump says he won't fire Fed Chair Jerome Powell
Published On Dec 9, 2024, 6:37 PM
During a recent interview, President-elect Trump confirmed that he does not plan to fire Federal Reserve Chair Jerome Powell, despite previous criticisms regarding Powell's handling of interest rates. Trump acknowledged his long-standing criticism of Powell but stated that he would allow Powell to serve out his term, which lasts until May 2026. The Fed has faced scrutiny this year, particularly related to inflation management, and Trump's position may imply a less tumultuous relationship between the administration and the Fed in the near future.
Stock Forecasts
SPY
Positive
Trump's decision to allow Powell to remain in position suggests a likelihood of continuity at the Federal Reserve, potentially leading to a more stable economic environment and investor confidence. Stability in the central bank's leadership may help in mitigating market volatility, especially regarding interest rates.
Related News
Oppenheimer’s Stoltzfus New Top S&P 500 Bull With 7,100 Target
Dec 9, 2024, 1:39 AM
(Bloomberg) -- The S&P 500 will extend its record-setting rally to 7,100 by the end of next year amid a strong economy, according to Oppenheimer Asset Management, whose outlook is now the most bullish among peers.Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitFundamentals “suggest the current resilience of the economy
Stock market today: Dow, S&P 500, Nasdaq struggle for gains as Nvidia slips
Dec 9, 2024, 10:15 AM
A Chinese antitrust probe into Nvidia and looming consumer inflation data are in focus to start the week.
Stock futures are little changed after S&P 500 posts third-straight winning week: Live updates
Dec 8, 2024, 6:02 PM
The S&P 500 and Nasdaq Composite closed at fresh highs Friday, ahead of key inflation data this week.