Prof G Markets Why Trump’s War Week Didn’t Break Markets
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Jan 19, 2026 Scott Galloway and Ed Elson dive into Trump's investigation into Jerome Powell, discussing its potential to undermine the Fed's independence. The duo explores the geopolitical surge in metal prices linked to Trump's foreign policy moves and highlights the resilience of assets like gold and copper amid instability. They also tackle the evolving AI landscape, with insights into Apple’s AI strategies and the implications these developments hold for the job market and competition. Tune in for a captivating mix of politics, market dynamics, and tech trends!
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Fed Independence Prevents Political Monetary Abuse
- Independent central banks reduce the temptation for politicians to use rate cuts for short-term gain.
- Scott Galloway argues Fed independence is crucial to avoid runaway inflation and preserve dollar power.
The Real Target Is Powell’s Board Seat
- Removing Powell from the Fed chair role is different from removing him from the board of governors.
- Scott Galloway says Trump likely aims to sideline Powell's ongoing influence on rate decisions by ousting him from the board.
Broad Backing Made Powell Politically Untouchable
- Markets and public reaction signaled broad bipartisan defense of Powell.
- Ed Elson highlights surprising support from both institutions and retail traders like WallStreetBets.