Which is more important: a leader who is loved or a leader who is feared? And why?

This is a matter of opinion. A leader who is loved will be protected by their followers, but may not always get the desired outcome from them. A leader who is feared will always get a desired outcome, however they will be unlikely to build any relationships with their followers.

A leader who is love. Who wants to be know as the person people fear, thats gonna make people not want to be around you.