Economist: Trump's firing of Cook could upset the US government budget
2025-08-26 02:52:55
Stephen Halmalik, chief economist at Economics Unchained, said central bank independence has been one of the cornerstones of the global financial system since the early 1990s, so attempts to weaken the Fed's independence are worrying. If Fed Governor Cook is removed, the appointment of new governors will be directly directed by the president, which will not be welcomed by financial marekts and could instead lead to a rise in bond yields, which are crucial to the management of US government debt. (Golden Ten)
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