The Federal Reserve Is Too Independent
Business
Photo: Chip Somodevilla/Getty Images It’s easy enough to decry Donald Trump’s attempted takeover of the Federal Reserve as yet another swerve toward authoritarianism. He is breaking with decades of precedent and allegedly the law to attempt to fire Lisa Cook, a Biden-era appointee to the bank’s board of governors. It appears to be part of his campaign to demand lower interest rates, which is a lousy policy when inflation hasn’t quite cooled. Trump has done little otherwise to bring prices down.
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