Powell: I won't leave the Fed at Trump's request

Since Trump won a second term on Tuesday, ahead of prediction markets, the U.S. bond market has seen a small crash, leading to higher mortgage and other household borrowing costs. Fortunately, Trump has a clear way to mitigate the damage and start his term on a good note: He should declare that he fully trusts Fed Chairman Powell, who will serve until May 2026, and promise to remain silent on monetary policy issues. It is reported that there was a brief conversation between Powell and reporter Victoria Guida: Guida: Some of Trump's advisers suggest that you should resign. If he asks you to leave, will you go? Powell: No. Guida: Do you think you don't have to leave legally? Powell: No. It is reported that Powell was not joking. After the comment was made, the 10-year Treasury yield initially fell by about 4 basis points, and fell a total of 11 basis points on the day. (Jinshi)