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JPMorgan Chase Wealth Management: Trump “Very Eager” to Dismiss Powell and Cut Interest Rates

2025.04.18 14:48:23

On April 18th, Kathy Jones, the Chief Fixed Income Strategist at the Charles Schwab Center for Financial Research, indicated that investors should not ignore the potential for Trump to follow through on his threat to dismiss Powell. She remarked, "He is extremely eager to fire Powell and reduce interest rates, and this is very evident." Although Powell reaffirmed on Wednesday that current law safeguards Federal Reserve members from being dismissed by the White House for political reasons, an upcoming Supreme Court ruling is likely to make it simpler for Trump to do so. Analysts led by Krishna Guha at Evercore ISI cautioned that the ruling in the Trump v. Wilko case might enhance the president's authority, enabling the dismissal of institutions that were previously regarded as immune to political influence, thereby weakening the independence of the Fed and other government agencies. (FX678)
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