Markets are showing resistance to Trump’s threats against Fed Chair Jerome Powell, as stocks fell on reports of Powell’s potential firing. Bank CEOs and analysts are expressing concerns over the issue, emphasizing the importance of the Fed’s independence from politics. While Trump is considering announcing a new Fed Chair, Wall Street remains wary, fearing the negative impact on markets. If Trump were to fire Powell, the consequences could be dire, with increased market volatility, higher Treasury yields, and a weakened US dollar. Economists warn that such an action could damage the Fed’s credibility and stability.

Read more at Yahoo Finance: Why Wall Street’s brightest minds hate the idea of Trump firing Fed Chair Powell