Unraveling the legal, economic and market ramifications if Trump tries to fire Fed Chair Powell

Key Points

If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would set off a courtroom battle that would likely head to the Supreme Court.
Most people familiar with the situation say Powell would sue if Trump tries dumping him.
Despite seemingly low chances of success, going after Powell still could serve a political purpose for Trump.
Even if the Fed did cut rates, it could do more harm than good to Trump’s goal of lowering finance costs on the national debt.

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