Senate Majority Leader Thune Says Trump May Base Jerome Powell Fed Chair Decision on Market Reaction; Markets Want Independent Fed

Senate Majority Leader John Thune stated that President Donald Trump will likely base any decision to remove Federal Reserve Chair Jerome Powell on how financial markets react. Thune emphasized that markets prefer an independent Federal Reserve that is not influenced by political whims, suggesting that firing Powell could negatively impact market stability. Despite President Trump's expressed frustration with Powell over interest rate policies, Thune confirmed that during a recent meeting between him and Trump, the topic of removing Powell was not discussed.