JPMorgan analysts have raised concerns about potential political interference at the Federal Reserve, warning that any threat to Chair Jerome Powell’s position could have far-reaching market implications.In a note titled “How Safe is Powell’s Job?”, the bank acknowledged that while a "for cause" removal of Powell remains legally questionable, even the perception of such an attempt risks undermining the Fed’s institutional independence.“Even if Powell’s job is at risk from a ‘for cause’ removal—which itself is legally questionable—there are other institutional guardrails that should prevent the president from decisively influencing monetary policy,” the analysts wrote.JPMorgan cautioned that any weakening of the Fed’s autonomy could heighten inflation risks at a time when price pressures are already being driven higher by tariffs and elevated inflation expectations. If markets begin to question the Fed’s resolve to fight inflation, investors may demand a greater premium for holding long-term debt, pushing up long-term interest rates.Higher rates would, in turn, dampen economic activity and further strain the U.S. fiscal outlook, JPMorgan said.The note underscores investor unease about the balance of power between the central bank and the White House, as markets continue to assess both the political and macroeconomic trajectory. Earlier:Trump asked GOP leaders if he should fire Powell.That headline saw traders slam stocks lower. Trump's FAFO effort quickly turned to yet another TACO:Trump: Fed Chair Powell is too late, but he does not planning on doing anything This article was written by Eamonn Sheridan at www.forexlive.com.