Adriana Cougler Myin addressed concerns about Fed independence following pressure from the president to lower interest rates. >> I couldn't be more in agreement that independence of the central bank is of paramount importance for the economy, for financial markets, for the long run stewardship of of of the country. Um all of those are are are completely I'm in in complete accord with.Um look, the the president nominated me because I have policy views uh that uh I suppose that he liked. My next guest says My ...

Since you describe how you'll be informed by your political biases, I think the American people have a right to understand just how independent you are or are not. So, let's measure that a little bit. Dr.. Myron, let's start with an easy question to show that you have some independence from the president. Easy yes or no. Did Donald Trump lose the 2020 presidential election.Um, Joe Biden was certified by Congress as the president of the United States, right. So, did Donald Trump lose that election. Um, as I ...

As for the broader market, uh, Dow settled into the red early this morning. Bob Doll is with us. Crossmart global CEO and CIO.Bob, it's good to have you. Thanks for joining us in advance of the number tomorrow. We know this is I mean, we always say the jobs number is one of the most important ever, but this could actually determine the the trajectory of rates in the medium term, wouldn't you say.Totally agree. You guys just covered the job situation very well. Look, the Jackson Hole speech was a pivot.it wa ...

I imagine you'll be tuned in later on this morning when that hearing begins. But what would you like to hear. I think that he's already foreshadowed what he's going to say.The Senate is worried about the compromising the Fed's independence, and that's probably the only thing that could hang up this confirmation hearing. And he's already stated in his opening remarks that he's going to honor that. Obviously, what that means in practice once you're in the Federal Reserve bill, remains to be seen.But he's goin ...

Wall Street strategists say investors are becoming more concerned about said independence as President Trump seeks to impose his will on the central bank. Jp morgan analyst wrote to clients that, quote, Markets have become more concerned over Fed independence as there are signs of a Fed inflation trade. Goldman Sachs analyst also noted growing concerns around Fed credibility.Let's get Morgan Stanley's take. Joining us now is Mike Wilson, who is the firm's chief U.S. equity strategist and CEO. Mike, thanks f ...

All right, welcome back to the exchange. We've got breaking news out of Washington DC. Steve Leeman has that story.Steve, Dom, thanks. We have the opening statement for Steven Meyer. He is the candidate for a Federal Reserve job uh that is open right now.And he is going to say that independence of monetary policy is critical for its success. He pledges or he says he intends to preserve the independence of the Fed. That is a obviously a question when it comes to uh appointees of President Trump to the Federa ...

The president has broken a decades-long norm that Fed independence is sacrosanct. A collapse of faith could cause problems across markets https://t.co/L5Mw8qQhTK ...

And now let's bring in Muhammad Ali and he's Alan's chief economic adviser. It's good to have you back. Thanks for being on.Thank you, Scott. So we we keep discussing this in the context of Fed independence being at risk. At what point do you personally say, you know what, that was it.It is no longer independent because of what just happened. What is that moment. So, I don't think we're there yet, but we're getting closer to it.And what worries me, Scott, is as complex as what Aean just told us, and his phr ...

Monetary Policy & Inflation - The market expects the Fed to cut rates by 25 basis points next month, with an 88% probability [5][6] - The Fed's dual mandate of full employment and price stability is in focus, particularly the conflict between a weakening labor market and persistent inflation around 2.9% [4][11][12] - Inflation is stuck slightly above the target, and it's uncertain whether it will decrease soon [9] - The pace of rate cuts is crucial; a slow and steady approach is favored, aligning with a softening labor market while respecting the inflation backdrop [8][9][10] - The market is closely watching break-even inflation rates for signs of unease, but the bond market is largely holding together [16] Labor Market - The labor market is showing clear signs of deceleration, and the Fed is concerned about it losing momentum [3][8] - The labor report next week is crucial in determining the Fed's next steps after the initial 25 basis point cut [4][5][6] - It's important to determine if the labor market slowdown is due to structural issues (AI, immigration) or cyclical factors [5] Fed Independence - The market is not seriously pricing in a loss of Fed independence, despite recent political drama [22] - Institutional guardrails are believed to protect Fed independence, which is crucial for market confidence and controlling long-end rates [21][23][24] - Maintaining Fed credibility is essential, especially with pressure to ease rates amid persistent inflation [15]

Steve, instead of talking about the case for a moment, I just like to kind of understand from your perspective what may happen to Cook regardless of what happens in court today, I guess, in the sense of I mean, she's right. She's suing it Powell now, right. Um, does Powell have to open an investigation regardless.I guess I wonder in the same way they did with Clar with Kaplan and the like. uh and would that conceivably result in her leaving the Fed anyway at some point as a result even if this goes nowhere ...