If the Fed hikes rates before the 2020 election, the 'drumbeat' to try to get Powell to resign will be great, says sovereign wealth fund advisor
If Federal Reserve Chair Jerome Powell is"browbeaten" enough, he could ultimately resign, macroeconomic forecaster Komal Sri-Kumar told CNBC on Monday.
"It is not as if the president can fire the Fed chairman. He cannot. But he can make it extremely uncomfortable to occupy that position," he said on"Power Lunch." Chicago Federal Reserve President Charles Evans told CNBC on Monday that he'd be comfortable leaving interest rates alone until autumn 2020 to help ensure sustained inflation in the U.S. However, he said he wouldn't categorize the December 2018 rate hike as a mistake.
However, Art Hogan, chief market strategist at National Securities, believes the Fed's change of heart had a lot to do with global economic conditions.
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