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UNITED KINGDOM PERSPECTIVE
TRUMP DROPS THE POWELL PROBE AND PAVES THE WAY FOR A LOYALIST FED CHAIR
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DOMINANT ANGLE
London between pragmatism and concern: the Fed's independence as a global bulwark — threatened
Dominant angle identified — does not reflect unanimity of this country’s media
ANALYSIS
The BBC factually reported the DOJ dropping the probe, noting it 'smooths the path' for a Trump-chosen successor. The Independent ran a more political analysis: 'Trump's DOJ drops case against Jerome Powell to clear the way for Kevin Warsh as Fed chair,' highlighting the openly political nature of the move. City bond strategists warned that if Warsh cuts rates faster than expected, it will create tensions between the Bank of England and the Fed — with direct implications for the pound-dollar exchange rate.
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