USA: Is the Fed's independence now in danger?
Reading time: 4 min.
|US President Donald Trump has fired a governor of the US Federal Reserve. The intervention in monetary policy could cause massive long-term damage to the economy and the stock market. Key questions and answers.
Until now, US President Donald Trump had "only" ranted and raved about those in charge at the Federal Reserve. Trump called Fed Chairman Jerome Powell an "idiot" for his refusal to lower interest rates. But now Trump has attacked directly, firing Fed Governor Lisa Cook, who had sided with Powell. Cook is taking legal action against the Fed, and the courts will have to decide the dispute. Many economic experts fear that Trump wants to undermine the Fed's independence. The Süddeutsche Zeitung answers the most important questions.
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