- Ken Griffin has warned that Trump’s pressure on the Fed and dismissal of officials risk eroding U.S. institutional credibility and driving up long-term borrowing costs. He cautioned that once confidence is lost—as seen in past crises from Nixon’s Fed battles to Liz Truss’ meltdown in the U.K.—it is costly to rebuild.
While you’d be hard-pressed to find a financial expert who believes the Fed is perfect, you’d have to search even longer for an economist who believes political meddling in the central bank is a good idea.
