A short history of political meddling with the Federal Reserve
Donald Trump’s attacks on the Fed are a throwback to the era before central-bank independence
DONALD TRUMP thinks dimly of America’s central bank. When he was president, he berated the Federal Reserve for keeping interest rates higher than he wanted, fuming that Jerome Powell, its chair, could be a “bigger enemy” than Xi Jinping, China’s leader. Now the Republican presidential nominee is preparing for another fight if he wins November’s election. On August 8th Mr Trump insisted he should “have a say” over monetary policy during a second term.
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