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SHOCKING TURN: Trump Claims NO Plans to Fire Fed Chair Powell!
In a jaw-dropping twist, Donald Trump has boldly declared he has “no intention” of kicking US Federal Reserve Chair Jay Powell to the curb, and this shocking statement sent shockwaves through global markets, sending stocks and the dollar soaring higher than ever!
TRUMP VS. POWELL: A Stormy Showdown Continues!
Despite a barrage of attacks on Powell’s reluctance to slash interest rates, the president surprisingly backtracked during a Wednesday Oval Office rant, insisting, “I don’t want to talk about that because I have no intention of firing him.” Is this a sign of Trump softening? Or just more smoke and mirrors?
MARKETS RESPOND: S&P 500 and Nasdaq on the RISE!
Investors are buzzing! Futures for the S&P 500 and Nasdaq spiked upward in Asian trading, as the dollar index climbed by a staggering 0.3%. This comes after a disastrous three-year low earlier in the week! Can you believe it? The stock market was on the brink of chaos, but now it’s doing a complete 180!
BONDS BOOMING: Yields Taking a Nosedive!
US bonds are making a spectacular recovery, with 10-year Treasury yields plummeting to 4.34% and 30-year yields dropping to 4.79%. Talk about a dramatic turnaround! The bond market is riding high, and experts are saying this newfound stability shows that Trump’s team understands the importance of keeping a leash on the volatile markets.
IS IT ALL A SMOKESCREEN? Investors FEAR for Powell’s Future!
However, don’t get too comfortable, folks! Investors are still wary after Kevin Hassett, director of the National Economic Council, admitted that Trump is still mulling over Powell’s future. The tension escalated after Trump blasted Powell as “Mr. Too Late” on social media, sending stocks spiraling downward!
THE FED AND TRUMP: A TURBULENT RELATIONSHIP!
The Fed is on a collision course with Trump ever since he took office, but the drama intensified when Trump unleashed his “reciprocal tariffs” in April. Now, the Fed is adamant about NOT cutting rates until they’re confident Trump’s trade policies won’t trigger a catastrophic inflation spike!
THE CLOCK IS TICKING! Will Trump Fire Powell or Not?
The burning question remains: will Trump stick to his word and keep Powell in place, or will he blow the whistle and fire him before his term ends in 2026? The economic world is holding its breath. Stay tuned for more explosive updates on this high-stakes showdown!
photo credit: www.ft.com
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