Fed Chair Powell (Q&A) says his concern is about the series of legal attacks on the Fed which threaten ability to conduct monpol
Fed Chair Powell's remarks indicate rising concern over the legality of pressure from the administration, suggesting a potential risk to the Fed's independence in setting monetary policy.
Fed Chair Powell (Q&A), asked about the easing bias, says had vigorous debate on guidance today; a number see hike as likely as cut has moved up
Fed Chair Powell (Q&A) says for a long time, Fed has hypothesised that tariffs would be a one-off
Fed Chair Powell (Q&A) says his concern is about the series of legal attacks on the Fed which threaten ability to conduct monpol
BP (BP \ LN) and Venezuela sign deal for oil producer to explore offshore area.
US President Trump says on the Hormuz blockade, says it has been genius and foolproof; Hormuz blockade shows how good the US Navy is and says all Iran has to do is "cry uncle"
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- Says actions by the administration are unprecedented
- Ongoing threats of additional action threatens the Fed's ability to do its job
- Important that people can depend on Fed to set policy free of political influence
- Will leave the Fed when it is appropriate to do so
- Does not see his decision as political; he staying because of the actions of the administration
- Events of the last three months leave him no choice but to stay
- Intention is not to interfere with new Fed Chair
- Notes it is difficult to get consensus with 19 strong-minded people
His emphasis on the necessity for the Fed to operate free from political influence may bolster expectations for a cautious approach in policy adjustments, which could impact both the USD and broader fixed income markets. Investors should remain alert to the implications of these dynamics on rate expectations and market stability.
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