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If Trump fires the Fed’s Powell ‘both the currency and the bond market can collapse,’ according to Deutsche Bank (fortune.com)

submitted 4 days ago by babysandpiper@sopuli.xyz to c/economics@lemmy.world

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If Trump gets his way and removes Jerome Powell as chairman of the U.S. Federal Reserve, the market reaction would be swift and brutal, Deutsche Bank’s George Saravelos argues.

It could collapse the currency and bond markets, he says in a note seen by Fortune. Polymarket puts the chances of a Powell ouster at 19%.

“We consider the removal of Chair Powell as one of the largest underpriced event risks,” Saravelos says.

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[–] TropicalDingdong@lemmy.world 52 points 4 days ago (1 children)

I mean shit, the entire global economy almost collapsed because a boat got turned sideways.

Whatever this would represent, catastrophic isn't enough of a word for it.

[–] TheReturnOfPEB@reddthat.com 16 points 4 days ago* (last edited 3 days ago) (1 children)

which also led to one of the classics:

I Freed This Handsome Cargo Ship From The Suez Canal And Now He's Stuck In My Butt

Chuck Tingle is a prince among men

[–] TropicalDingdong@lemmy.world 3 points 4 days ago

“I’ve been so worried about losing my old life that I forgot about all the exciting new chapters that lay ahead. I could’ve never seen Ever coming, but now that he’s here, I’m thrilled by what else lies on the road ahead.”

Well then it was all worth it, wasn't it?