-- The Federal Reserve will face a significant risk of losing its independence to ramped-up political interference if Donald Trump is elected president again, according to the latest Bloomberg Markets Live Pulse survey.Key Engines of US Consumer Spending Are Losing Steam All at OnceForty-four percent of respondents said they expect Trump to seek to to politicize the central bank or limit its power if he returns to the White House.
In his first term as president, Trump broke with decades of precedent by openly attacking Fed Chair Jerome Powell, first for raising interest rates and then for not cutting them further. More than one-third of the respondents said that Trump would likely use social media and public appearances to jawbone the Fed, though 14% anticipate that he will try to demote Powell before his term ends in 2026.
The survey underscores the high stakes for financial markets in the November election as most opinion polls largely signal a close rematch of the 2020 contest. It's unclear how Trump's candidacy will be affected by his recent felony conviction. With the economy exhibiting surprising strength and inflation cooling, the Fed has kept rates steady since its last increase in July.
The survey was conducted between May 27 and May 31 among Bloomberg News readers on the terminal and online and included portfolio managers, economists and retail investors. Donald Trump Verdict Was ‘Another Layer of Poison’ for Melania: ‘She’ll Probably Always Be Mad at Him’ Trump's plan to tax the entire world will result in the type of global trade war not seen since the Great Depression, think tank says
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