Featured Wall Street Journal: Trump's Plan to Dismiss Powell Leaked, New Fed Successor Emerges
The Wall Street Journal reveals that, according to informed sources, Trump has been privately discussing the dismissal of Federal Reserve Chairman Powell for several months, but has not made a final decision on whether to remove him before his term ends next year. The sources said that during a meeting at Mar-a-Lago, Trump talked with former Federal Reserve Governor Kevin Warsh about possibly firing Powell before his term ends and potentially choosing Warsh to replace him. According to other informed sources, Warsh had advised against firing Powell and believed that the Fed chairman should complete his term without interference. However, in a meeting in the Oval Office this Thursday, Trump expressed confidence that he has the authority to remove Powell. Trump said, "If I want him out, he'll be out soon, trust me." He also expressed his dissatisfaction with Powell.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Spot gold falls about $15 in the short term, touching a low of $4122 per ounce.
Spot gold dropped approximately $15 in the short term, hitting a low of $4,122 per ounce.
The rebound in US Treasury yields suppresses US stock futures as the market awaits the Federal Reserve meeting minutes.
During Wednesday's European trading session, US stock index futures were subdued as a rebound in US Treasury yields weighed on investor sentiment, with markets awaiting the release of the latest Federal Open Market Committee meeting minutes by the Federal Reserve. The US bond market continued to face pressure, with the 10-year Treasury yield rising above 5.30%, and the 30-year yield hovering around 5.69%. Persistent inflation concerns, a widening fiscal deficit, and a significant increase in artificial intelligence-related bond issuance are key factors keeping yields elevated. Escalating geopolitical tensions in the Middle East are driving up crude oil prices, further intensifying inflationary pressures and sustaining expectations of interest rate hikes. However, recent weakness in US labor market data has lowered expectations for an aggressive tightening policy by the Federal Reserve. According to the CME FedWatch tool, traders currently estimate only about a 22% probability of a rate hike at the Fed's October meeting.
French fiscal crisis deepens, euro drops to its lowest level against the pound since June last year
Due to the ongoing fiscal crisis in France and new political risks emerging in Europe, the euro dropped against the pound to its lowest level since June last year. The euro fell as much as 0.4% against the pound to 0.8449, breaking below this year's low set in July. Earlier this week, the euro had already fallen to a 17-month low against the US dollar, and on Wednesday, it also underperformed most G10 currencies. France is currently facing increasing pressure in its bond market. Missed fiscal deficit targets, gridlocked policies, and the possibility of significant policy shifts due to next year's presidential election are all undermining investor confidence. On Tuesday, far-right presidential candidate Marine Le Pen called on the European Central Bank to intervene in order to reduce the rapidly rising government financing costs. The turmoil in the French market has already spread to the European government bond market. Last week, European bonds experienced a large-scale sell-off, reviving memories of the eurozone debt crisis.
Sources say Malaysian crude palm oil prices may reach 5,000 ringgit per ton
Sources say: The price of Malaysian crude palm oil could easily reach 5,000 ringgit per ton, but it is currently unclear when this will happen.
Crypto prices
More
