Jeremy Siegel: Better for the Fed's long-term independence if Powell resigns

Fed Independence Concerns - The speaker expresses worry about the Federal Reserve's independence, particularly concerning potential pressures from political figures [1] - The speaker suggests that the Fed Chairman stepping down might paradoxically enhance the Fed's long-term independence [1] - The speaker anticipates potential scapegoating of the Fed Chairman if the economy weakens [2] - The speaker fears potential congressional actions to reduce the Fed's power and increase presidential control over it [4] - The speaker highlights that the Fed's powers derive from Congress, which can amend or revoke them [5] Potential Political Intervention - The speaker believes a Republican-controlled Congress might grant the president more control over the Fed if the economy declines and the Fed Chairman is blamed [5] - The speaker suggests the president might seek increased authority over the Fed, including the power to appoint the chairman at will [4] Economic Outlook - The speaker mentions the possibility of the economy weakening in the second half of the year, though not expecting it [2] - The speaker references potential criticism of the Fed Chairman for being too slow to address inflation [3]