Barclays: Firing Powell may backfire.

Jin10 data reported on July 21 that Barclays' interest rate strategy team warned in its latest report that firing Fed Chairman Powell would not accelerate the FOMC's rate cut process, but could instead trigger a policy backlash. The report stated: "If the market questions the Fed's independence, leading to rising inflation expectations and long-term yields, the FOMC may even extend its period of inaction or restart rate hikes." The strategist believes that even appointing a new Fed Chairman would be unlikely to meaningfully ease monetary policy, as it still requires consensus with the other 11 FOMC voting members.