Trump’s growing anger with Fed chief poses market risks
By Sylvan Lane
President Trump would likely find himself in murky legal waters if he attempts to dismiss Federal Reserve Chairman Jerome Powell, but experts say the bigger concern is that any move on that front would ignite a chain of calamities that could derail the global economy and financial markets. …“Increased attacks on the Fed do more damage than they should,” said Karen Petrou, managing partner at Federal Financial Analytics. Petrou said that while skepticism of the Fed is historically bipartisan, so is support for the central bank’s independence. “They know the United States economy needs a stabilizing force that they doubt — correctly, I think — would come from the administration or Treasury,” Petrou said. “Even if you don’t like the Fed, you know how dangerous that would be.”