Trump wants to fire Powell? The French finance minister warns: this will damage the credibility of the dollar and the USA economy!
① The French Minister of Finance, Le Maire, warned that if Trump dismisses Federal Reserve Chairman Powell, it would jeopardize the credibility of the dollar and undermine the stability of the USA economy; ② Last week, Trump expressed his disappointment in Powell's cautious attitude towards interest rate cuts and posted on Social Media that Powell is not being fired quickly enough.
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Support Powell? The "third-in-command" of the Federal Reserve stated that there is no necessity to adjust interest rates in the short term!
① The President of the New York Federal Reserve, Williams, believes that there is no need to change the Federal Reserve's interest rate policy in the short term, although Trump's tariffs may increase inflation, weaken economic growth, and raise unemployment rates. ② Williams emphasized that the Federal Reserve needs to ensure that inflation does not continue to rise and to bring inflation back to the target level of 2%.
Weight stocks have faced a sharp decline, while the Dow Jones, known as the "most resilient" index in the U.S. stock market, has fallen against the trend.
The Dow Jones uses a price-weighted method, which means that price changes in high stock price shares have a greater impact on the index than those in low stock price shares. Overnight, the largest weighted stock, UnitedHealth, plummeted 18%, dragging the Dow down by 1.2%, while the S&P 500 Index rose by as much as 0.6%. Media compilation data shows that since 1954, instances where the Dow fell by 1% or more while the S&P rose at least 0.5% have only occurred once.
$100 Invested In This Stock 15 Years Ago Would Be Worth This Much Today