The Importance of Fed Independence (Roger W. Ferguson Jr. and Maximilian Hippold – Council on Foreign Relations)

President Donald Trump has long been a critic of Federal Reserve Chair Jerome Powell, whom he appointed in 2018. Since beginning his second term, Trump has continued to call for lower interest rates and has repeatedly expressed frustration with Powell’s resistance. In recent weeks, however, Trump’s public criticism has reached new heights, threatening the independence of the Federal Reserve and demonstrating a remarkable willingness to risk the role of the United States as the bedrock of global financial stability.

The Importance of Fed Independence | Council on Foreign Relations