Trump, Fed and central bank independence
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Mr. Bernanke and Ms. Yellen are both economists and former chairs of the Federal Reserve. As former chairs of the Federal Reserve, we know from our experiences and our reading of history that the ability of the central bank to act independently is essential for its effective stewardship of the economy.
The USD/CAD pair extends the decline to 1.3680 during the early Asian session on Tuesday. The renewed concerns over the US Federal Reserve (Fed) independence weigh on the US Dollar (USD) against the Canadian Dollar (CAD). Fed Chair Jerome Powell is set to speak later on Tuesday.
Kevin Hassett's Trump-era makeover is fueling questions about the independence of the Federal Reserve as he emerges as a leading contender to succeed Jerome H. Powell as chair.
WASHINGTON (Reuters) -U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill. Trump should be careful what he wishes for.
The independence of central banks, which allows policymakers to operate free from political meddling, is considered sacrosanct by investors and economists.
The U.S. economy is mostly in good shape but that isn’t saving Federal Reserve chair Jerome Powell from a spell of angst.