When Trump attempted to fire Powell in mid-2023, bond markets immediately spiked yields in protest, effectively forcing Trump to back down; this market reaction preserved Fed independence and should be replicated if future administrations threaten institutional autonomy.
factualpending
Speaker
Jeffrey ShermanEvidence Quote
“And that was the day that Trump tried to fire J. Powell. And they sleeked it out and they came out and bond yield spoke and spiked in the Treasury market.”
Created: 8/12/2026, 10:36:49 PM
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