All articles tagged with #central bank independence
The article discusses Donald Trump's unprecedented efforts to exert control over the US Federal Reserve, including public disputes with Fed Chair Jerome Powell, attempts to influence monetary policy, and plans to appoint a new Fed chair, raising concerns about the independence of the central bank amid political pressure.
Over 80% of top CEOs favor Fed Governor Chris Waller as the next Fed Chair due to his credibility in lowering interest rates while maintaining central bank independence, contrasting with other contenders and political interference, and his positive market reception.
The article discusses the potential consequences of President Trump gaining control over the Federal Reserve, highlighting historical examples from Turkey, Argentina, and the US, and warning of the risks to economic stability and global markets if central bank independence is compromised.
Following Jerome Powell's speech at Jackson Hole, Donald Trump threatened to fire Fed governor Lisa Cook over allegations of mortgage fraud, intensifying political tensions and raising concerns about the independence of the Federal Reserve amid ongoing investigations and potential political influence.
JPMorgan analysts warn that President Trump's appointment of Stephen Miran to the Federal Reserve could signal efforts to weaken the Fed's independence by proposing reforms that increase presidential influence and potentially amend the Federal Reserve Act, raising concerns about political interference in monetary policy.
President Trump has publicly pressured the Federal Reserve and its Chair Jerome Powell to lower interest rates, raising concerns about the independence of the Fed, which is crucial for maintaining economic stability and credibility. Historically, presidents have influenced the Fed, but Trump's aggressive tactics are unprecedented and could undermine the checks and balances that protect the economy from political interference.
Top economist Mohamed El-Erian has called for Federal Reserve Chair Jerome Powell to resign, citing concerns over the Fed's credibility and independence amid political attacks, scandals, and missteps, including inflation management and internal scandals, which El-Erian believes could harm the institution's reputation and economic stability.
The article discusses the tension between President Trump's calls for the Fed to cut interest rates and the traditional independence of the Federal Reserve, highlighting potential political interference, the costs of Fed headquarters renovation, and the broader implications for U.S. economic policy and legal battles over Fed leadership.
President Trump is escalating efforts to potentially remove Fed Chair Jerome Powell by using legal grounds related to a controversial building project, raising concerns about presidential influence over the Federal Reserve's independence and setting a risky precedent for central bank autonomy.
Federal Reserve Chair Jerome Powell emphasized the importance of the Fed's independence from political influence in setting interest rates, aiming to benefit all Americans rather than specific political agendas. Speaking at the New York Times' DealBook summit, Powell addressed concerns about political interference, particularly in light of President-elect Donald Trump's criticisms. He expressed confidence in congressional support for the Fed's autonomy. Powell noted that the Fed could cautiously cut interest rates as the economy remains strong and inflation has decreased, though it remains slightly above the Fed's target. Other Fed officials have also indicated potential rate cuts, depending on upcoming economic data.
Federal Reserve Chair Jay Powell stated that he does not anticipate interest rates to return to the "very, very low" levels seen before the pandemic, emphasizing the uncertainty surrounding where rates will ultimately settle. Powell also highlighted the importance of central bank independence and transparency in decision-making processes.