Market Optimism Grows Amid Expectations of Fed Rate Cuts and Leadership Uncertainty
TL;DR Summary
Naming a shadow Fed chair before Powell's departure could cause market confusion, political conflicts within the FOMC, and undermine the Fed's independence, potentially leading to increased market volatility and higher borrowing costs.
- A shadow Fed chief could lead to a 'revolt' on the FOMC against Powell's successor, former vice chair warns Fortune
- Traders bet on interest rate cuts from Jay Powell’s successor at the Fed Financial Times
- US market updates: Stocks near record highs as investors bet on Fed rate cut - as it happened Reuters
- Ron Insana: Trump would imperil more than just the Fed’s independence by naming a ‘shadow chair’ CNBC
- Fed independence not a concern for markets, yet Capital Economics
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