How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
“Profoundly dangerous” is how former Federal Reserve chair and US Treasury secretary Janet Yellen described president Trump’s attempt to remove Fed governor Lisa Cook from her post, writing in an opinion piece for the Financial Times on August 27.
The action constitutes a “direct attempt to politicise the Fed, intimidate its leadership and bend monetary policy to the president’s will”, Yellen states. “This action threatens to end the independence of the Federal Reserve – and with it, the
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