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Why does an independent Fed matter? Just look at Ronald Reagan's economy with Paul Volcker hiking rates to nearly 20%
Independent central banks can more easily take unpopular steps to fight inflation, such as raise interest rates, which makes borrowing more expensive.
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fortune.com
Timeline cronologica
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Moments after Jerome Powell's latest speech, Trump threatens to fire Fed governor Lisa Cook if she doesn't resign
Two days earlier, the suddenly embattled Fed governor Lisa Cook said she had "no intention of being bullied to step down."
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Why does an independent Fed matter? Just look at Ronald Reagan's economy with Paul Volcker hiking rates to nearly 20%
Independent central banks can more easily take unpopular steps to fight inflation, such as raise interest rates, which makes borrowing more expensive.
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Powell's next independence challenge: How to do what Trump has been asking for while preserving credibility
Adam Posen, president of the Peterson Institute, said Powell's remarks translated to: "even if it pleases the president, we’re going to make the right call."
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The Federal Reserve could start resembling the Supreme Court
Fed governors typically step down before their terms expire, but they may stay on until a president from their political party is in the White House.