The firing of Fed chair Powell could have created a firestorm despite reports of GOP support.
The Senate GOP banking committee member Tillis is out saying:
Firing a Fed chair over economic decision would undermine US credibility.If Fed chair is fired, you are going to see a pretty immediate response and we’ve got to avoid that.Ending Fed’s independence would be a huge mistake.
Meanwhile House Speaker Johnson is on the wires saying that:
Having a new Fed chair would be helpful at the Fed.He believes that interest rates need to be adjusted. He agrees with the presence assessment
This article was written by Greg Michalowski at www.forexlive.com.