Any effort by president-elect to interfere in interest rate policy could destabilise markets
Current and former policymakers are warning that any attempt by Donald Trump to undermine the independence of the Federal Reserve in his second term as US president would destabilise the world’s largest economy and global financial markets. In his first presidency, Trump turned on Jay Powell, who he nominated in 2017 to lead the US central bank, branding the chair “clueless” and an “enemy” for resisting his calls for lower interest rates.
This is one of the safeguards enshrined in law that have allowed the institution to remain “very durable”, said James Bullard, who left his post as president of the St Louis Fed last summer to become dean of Purdue University’s business school. But given the expansive majority of Republicans in the Senate, whose powerful banking committee spearheads the vetting process, more unconventional picks could face less pushback than in the past.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Astonishing moment Polish politicians chant 'Donald Trump, Donald Trump' in parliament as they...Watch how US Election Day 2024 unfolded as Donald Trump is projected to be the 47th president.
Read more »
US prosecutors weigh closing federal criminal cases against Donald TrumpDepartment of Justice special counsel’s investigations dealt potentially fatal blow due to election outcome
Read more »
With a Trump Victory All But Assured, Can Donald Trump Run Again In 2028?Donald Trump has declared victory and is on course to become the 47th president of the United States. Can he run again in 2028? Read more on Grazia.
Read more »
Everything To Know About Barron Trump Following Donald Trump’s Return To The White HouseFollowing his dad's return to the Whitehouse, everyone wants to know how tall Barron Trump is. Read more on Grazia...
Read more »
Trump wins latest: Details of alleged Iranian plot to kill Donald Trump before election revealedThe US Justice Department has revealed criminal charges relating to a thwarted Iranian plot to kill Donald Trump before this week's presidential election; the president-elect has started appointing people in his top team.
Read more »
Back to the Future star Lea Thompson blasts ex Dennis Quaid for supporting Donald TrumpDennis Quaid compares Donald Trump to Ronald Reagan at a Trump campaign rally in Coachella, California.
Read more »