Economic Indicators 

Debating independence

Chris Dillow

Chris Dillow
Debating independence

Sometimes, battles have to be fought again. So it seems with central bank independence, because the consensus that operational independence is a good thing has come into question. In a series of tweets last month, President Trump demanded a “big cut” from the Fed, saying that chairman Jay Powell has “only let us down”. To this, Bill Dudley – a former member of the Federal Open Market Committee – replied that the Fed should not bail out Mr Trump’s bad trade policies and reject any policy that would help his re-election.

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