Jerome Powell Sidelines Trump, Markets React Strongly!
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Bitcoin: $104,895.76 (+2.67%)
Powell Rejects Trump’s Statements, Reaffirms Fed's Independence
Federal Reserve Chair Jerome Powell has firmly dismissed former President Donald Trump’s remarks, emphasizing the Fed's commitment to independence.
🔹 Powell’s Response to Trump:
"I will not comment on President Trump’s statements. I have not had any discussions with him, nor will I yield to any of his demands. The Federal Reserve will maintain its independent policy decisions."
🔹 Policy Shifts & Market Confidence
Powell acknowledged recent policy changes, noting that while temporary uncertainties exist, they will be resolved soon. He also highlighted the labor market’s stability, signaling economic strength.
🔹 Inflation Insights
"We have removed direct references to 'inflation' from our statements, but this does not indicate any negative implications." – Powell
🔹 Clear Stance on Monetary Policy
"My policy evaluation remains unchanged. Our current stance is less restrictive than before."
🔹 Economic Outlook for 2024
"GDP is expected to grow above 2%, and the real estate sector is stabilizing." – Powell
🔹 Strong Statement on Fed’s Independence
"President Trump cannot remove me. The independence of the Federal Reserve is the foundation of the U.S. economy’s strength."
Powell’s firm stance has boosted market confidence! Despite political pressures, the Federal Reserve remains committed to independent decision-making.
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