Trump-Powell situation<\/a> after the president denied plans to fire the central bank leader, despite saying he would do so earlier in the day on Wednesday.<\/p>\n“We’re not planning on doing it,” he said at the White House. “I don’t rule out anything … but I think it’s highly unlikely, unless he has to leave for fraud.”<\/p>\n
That was hours after Trump had a meeting in the Oval Office, where he asked a group of House Republicans if they thought he should fire Powell. On receiving support for the move, Trump said he would follow through, per a senior White House official.<\/p>\n
“So, for about an hour, we had a brief glimpse of the likely market reaction as investors started to view\u00a0Powell’s removal as a serious prospect.\u00a0Notably, there was a huge steepening in the yield curve as investors ramped up the prospect of a near-term rate cut,” Deutsche Bank analysts said in a note.<\/p>\n
“Ultimately, the bulk of those moves unwound after Trump’s comments,” they added.<\/p>\n
On the economic data front, investors will await a slew of reports including weekly initial jobless claims, retail sales data for June, and last month’s import and export price indexes.<\/p>\n","protected":false},"excerpt":{"rendered":"U.S. Treasury yields moved higher on Wednesday after President Donald Trump shut down speculation that he’s planning to…\n","protected":false},"author":3,"featured_media":69615,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[17945,78,64,81,69,8001,79,49076,142,49073,49074,20674,37923,49075,14230,49072,67,132,68],"class_list":{"0":"post-69614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bonds","9":"tag-breaking-news-economy","10":"tag-business","11":"tag-business-news","12":"tag-donald-trump","13":"tag-economic-events","14":"tag-economy","15":"tag-government-debt","16":"tag-jerome-powell","17":"tag-treasury-bills","18":"tag-treasury-notes","19":"tag-u-s-10-year-treasury","20":"tag-u-s-2-year-treasury","21":"tag-u-s-30-year-treasury","22":"tag-u-s-economy","23":"tag-u-s-treasury-bonds","24":"tag-united-states","25":"tag-unitedstates","26":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114868035514472022","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/69614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=69614"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/69614\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/69615"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=69614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=69614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=69614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}