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Fed's independence under attack, economists warn of potential risks
On August 26, Saul Eslake, former chief economist at Merrill in Australia, stated that the dismissal of Federal Reserve Board Governor Lisa Cook marks a clear escalation of White House interference following President Trump’s push to reshape the U.S. federal government and its agencies. He added that loyalty seems to be a criterion for continuing to hold high office. The independence of the Fed is a key factor in maintaining the safe-haven status of U.S. Treasuries and the dollar. The Fed is now under full attack, and this will not yield good results.