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The Conversation
The Conversation
John Simon, Adjunct Fellow in Economics, Macquarie University

Central bank independence and credibility matters. Here’s why

Donald Trump Interest Rates Jerome Powell the Reserve Bank Inflation the US Federal Reserve United States The United States
Olga Kashubin/Shutterstock

In the United States, President Donald Trump has been pressuring the chairman of the US Federal Reserve, Jerome Powell, to slash interest rates. This is partly to ease the interest payments on the ballooning US government debt.

Powell has so far resisted, but Trump has also threatened to replace him with someone who will do what he asks.

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