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>>Trump influences market movements as the Federal Reserve deals with internal disagreements

Trump influences market movements as the Federal Reserve deals with internal disagreements

crypthub

3 days ago

Dimon’s Endorsement

JPMorgan CEO Jamie Dimon told asset‑management leaders he backs Kevin Warsh to become Fed chair. He said Warsh would be harder for President Trump to influence than Kevin Hassett. Dimon previously warned that meddling with Fed independence can have adverse effects.

Trump’s Push

President Trump met Warsh at the White House and signaled a decision in the coming weeks. He has repeatedly criticized Chair Jay Powell and urged faster rate cuts. Trump’s comments have intensified the political pressure on the Fed.

Market and Fed Response

Traders quickly raised Warsh’s odds to about 40% while Hassett’s fell below 60%. The recent Fed meeting revealed a split, with some regional presidents opposing further cuts and Powell deeming additional easing “high bar.” Markets are pricing in the uncertainty around the leadership race.

Legal Stakes

The Supreme Court will hear a case on Trump’s power to fire agency officials, including Fed governors. Though the court has recognized the Fed’s unique status, recent attempts to dismiss Fed Governor Lisa Cook have sparked litigation. The outcome could redefine the boundary of presidential influence over monetary policy.