Trump's firings could have implications for the Federal Reserve, posted yesterday:
Is Trump building the foundations to fire Fed Chair Powell and other Fed members?Check that post out for background if you haven;t seen it already.
UBS took note, bolding is mine:
Yesterday, US President Trump sought to fire the two Democrat commissioners on the Federal Trade Commission. If successful, this might become a precedent that could challenge the political independence of the Federal Reserve. If the president can dismiss Fed members, only the Senate confirmation process will serve as a check on politicization. Markets may not view that as robust. A political Federal Reserve risks weakening the US dollar’s reserve status.This could be a slow-burn issue, or perhaps not one at all. Something to keep an eye on.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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