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According to a report by Golden Finance, the Barclays interest rate strategy team has warned in its latest report that dismissing Federal Reserve Chairman Powell will not accelerate the FOMC rate cut process, but may instead trigger a policy backlash. The report points out that if the market questions the independence of the Federal Reserve, leading to rising inflation expectations and long-term yield increases, the FOMC may even extend its hold period or restart interest rate hikes. ”Strategists believe that even if a new Federal Reserve chairman is appointed, it will be difficult to substantially relax monetary policy, as it still needs to reach consensus with the other 11 FOMC members. (Golden Ten)