Trump's Attack on Fed Already Backfiring -- Market Talk

Dow Jones01-14

0706 GMT - Global market pricing is no longer driven solely by economic data, with politics playing an increasingly central role, says Ipek Ozkardeskaya, senior analyst at Swissquote. Broad support for Jerome Powell amid the DOJ-related controversy appears to be influencing markets, she says. JPMorgan CEO Jamie Dimon said this week that attacks on the Fed by the Trump administration could "backfire and push borrowing costs and inflation higher." Ozkardeskaya says he's right. Cutting rates more than necessary today risks higher inflation tomorrow, keeping borrowing costs elevated for longer, she says. That dynamic is already pushing longer-dated yields higher and steepening the U.S. yield curve - hardly the outcome the White House would prefer, she adds.(james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

January 14, 2026 02:06 ET (07:06 GMT)

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