Trump’s war on Powell only adds to the ‘sell America’ trade
The president’s attacks on the US Federal Reserve chairman are adding to the fraying of US exceptionalism. They might even keep rates higher for longer.
About a month ago, US research firm Evercore ISI penned a speculative piece on what might happen if the administration of US President Donald Trump defied an order from the US judiciary.
The firm’s broad conclusion? It all depends. The markets “have generally shown a willingness to shrug off a continued erosion of US legal and political norms”, Evercore said, and would probably do so on matters such as immigration. But should the administration defy the courts in an economic or commercial dispute, it could be a very different story.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
