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Trump’s actions unlikely to affect Fed’s independence
Plenty of President Trump’s recent acts as president are making headlines, but there has also been a steady stream of stories about something he hasn’t done: Remove Jerome Powell as chair of the Federal Reserve. The two previous Fed chairs, Ben Bernanke and Janet Yellen, have warned that such a move would upset financial markets and hurt the economy by subverting monetary policy to political whim. Meanwhile, Trump backers are urging him on. The good news for Americans is that both Trump’s desire to remove Powell and the concerns of those who fear it are misguided: Ending Powell’s chairmanship now, or ... (full story)
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