Aug 21, 02:10 AM

Dollar Holds Steady as Fed Independence Questioned Before Powell Speech

The U.S. dollar traded narrowly on Thursday as investors weighed fresh questions about the Federal Reserve’s independence ahead of Chair Jerome Powell’s highly anticipated appearance at the Jackson Hole economic symposium on Friday. Political tension escalated after President Donald Trump called for the resignation of Governor Lisa Cook and signaled he may seek her removal, a move analysts said could undermine confidence in the central bank’s autonomy. Cook said she had "no intention of being bullied to step down." Currency markets were largely calm despite the rhetoric. The dollar index was little changed at 98.301, while the yen held at ¥147.41 and the euro at $1.1642. Traders continue to assign an 82% likelihood to a 25-basis-point rate cut at the Fed’s 16–17 September meeting, according to CME FedWatch, with more than 50 basis points of easing still priced in for 2025.

#Federal Reserve #Jerome Powell #Jackson Hole #Donald Trump #Lisa Cook #Cook #Fed #CME FedWatch

Written with ChatGPT .

Dollar Holds Steady as Fed Independence Questioned Before Powell Speech

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