Trump’s Attacks on the Fed Over Debt Costs Highlight Fiscal Dominance Threat.
(ThyBlackMan.com) Concerns about the Federal Reserve’s independence have grown following repeated attacks by President Donald Trump, including this week’s decision to fire Fed Gov. Lisa Cook based on questionable allegations. But this debate is too narrowly focused on the president’s political pressure, ignoring a growing danger in our system. It is true that since the Treasury-Federal Reserve Accord of 1951, the Fed has had operational independence — the ability to set interest rates day-to-day — without any obligation to make […]