Markets aren’t just responding to rates — they’re reacting to credibility risk.
Talk of attempting to fire Powell again sends a dangerous signal:
that monetary policy could become subordinate to political objectives,
rather than guided by data and long-term economic mandates.
The S&P 500 is priced on confidence — in earnings, in stability, and in the central bank’s independence.
Removing that foundation doesn’t lead to a soft landing.
It leads to revaluation, volatility, and risk repricing across asset classes.
You don’t restore growth by removing discipline.
You accelerate instability.
#SPX #S&P500 #FedIndependence #FirePowell #MarketRisk #MacroVolatility #CredibilityCrisis #MonetaryPolicy #InstitutionalTrust