Donald Trump’s war of words with Jay Powell is likely to do lasting damage to the $29tn Treasury market, even after the US president backpedalled on his apparent threat to fire the Federal Reserve chair, big investors have warned.
Trump this week said he had “no intention” of firing Powell, but reiterated his complaint that the Fed has been slow to cut borrowing costs. With Powell’s term as chair set to end in May 2026, the episode has fuelled investor fears about Fed independence…
Read the full article here
