With the appointment of Trump loyalist Governor Stephen Miran, the pending end of term as chair for Jerome Powell, and the ongoing attempt to fire Lisa Cook, it is widely expected the balance of power will soon be held by those that share in the president’s views. Given the forward-looking nature of markets, it’s fair to assume decisions will be in line with the administration’s plans from this point forward.
With the inevitable shift in power at the Federal Reserve, the need for food and energy prices to fall, helping to lower overall inflation and thus, allowing reduced interest rates (and lowering debt servicing requirements along the way) have diminished. With that, there is an opportunity for the president to improve his…
