TechFlow News — On November 8, according to Jinshi Data, President-elect Trump faces a critical decision on whether to reconcile with Federal Reserve Chair Jerome Powell. At the recent Fed press conference, Powell clearly stated that he would not resign even if Trump asked him to step down. This statement initially calmed markets, with the yield on 10-year U.S. Treasury notes falling 11 basis points that day. Analysts suggest Trump should publicly declare full confidence in Powell and commit to staying silent on monetary policy matters to ease market concerns.
Since Trump's re-election victory, the U.S. bond market has seen a slight downturn, pushing up mortgage rates and other household borrowing costs—potentially undermining voters’ confidence in his promises to improve housing affordability and reduce living expenses. Powell’s term as chair runs until May 2026, while his 14-year term on the Fed Board of Governors does not expire until 2028. Trump has previously criticized Powell’s interest rate policies and indicated he would not renominate him in 2026. However, some members of Trump’s team have proposed appointing a "shadow" Fed chair—a move that could damage the central bank’s policy credibility.
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