Fed in the News
In this video update, I talk about what firing the Federal Reserve Chairman might do to markets. I know this is hard to fathom, but this has become a distinct possibility based on news reports.
The Fed has acted as an independent monetary agency since inception. The termination of the Fed Chair would be historic and would likely be a troubling development. I think the US economy could still power through this disruption, but it would certainly trigger volatility in all markets.
We think the odds of this happening are not high at this point. Instead, it's our view that verbal attacks are designed to influence policy (and it very well might).
My thoughts about this or on the video link below. Please let me know if you have any questions.
