Q: Good afternoon - Trump has been granted permission to at least temporarily fire two agency leaders. In your opinion has the risk of Jerome Powell being fired increased? And ultimately a losing an independent fed increased? Thanks
5i Research Answer:
There are still some legal issues here to work through. As it stands right now, we do not believe Mr. Powell could be fired. He has said he would not resign if the President asked. But it is a fluid prociess. We think, after the latest market gyrations, Trump would at least hold off on such a dramatic move, even if power was granted.