Wall Street, Trump and Powell
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Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.
Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.
A firing of Jerome Powell by President Trump would likely open up a legal war never before seen in the US, without any guarantee of a courtroom victory for the White House.
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.