The Week in Markets: Fed's independence under pressure

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments.

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US President Donald Trump escalated his open criticism of Federal Reserve chair Jerome Powell on Monday, sparking concerns about the central bank’s independence. Meanwhile,​​Trump is also ramping up pressure on China, imposing fresh restrictions on the export of Nvidia's H20 AI chips. However, the University of Michigan consumer survey indicates that US consumer sentiment is rapidly declining, arguably placing him under growing pressure to strike a deal with Beijing.

This episode is presented by Richard Tang, China strategist and Head of Research, Hong Kong at Julius Baer.