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Stocks (^GSPC, ^IXIC, ^DJI) continued sliding on Monday as investors reacted to ongoing tariff uncertainty and political tension surrounding the Federal Reserve. Chip Hughey, Truist Wealth managing director of fixed income, joins Market Domination to discuss these dynamics and the potential implications for Fed leadership.
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We have been trying to sort of get sort of suss out what people are thinking today about how realistic it would be, how far President Trump is willing to go to try to remove Jay Powell as Fed chair. How are you thinking about that? And do you think the market is even sort of considering pricing in that kind of a scenario?
I, yeah, I I do. I think it's hard to say obviously how how it plays out, and obviously this has been a very public uh a very public forum that we have seen that. But I do think that today's market reaction does suggest that the market does really, really value an independent Fed, one that's focused on the dual mandate, which Fed chair Powell was seemed very committed to uh last week. I think that's still a very important priority for the market. And today's volatility that we're seeing, I think, supports that notion.