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The Guardian - UK
The Guardian - UK
Business
Heather Stewart

Trump’s push to cut interest rates has echoes of ‘banana republic’, says Yellen

US Federal Reserve Janet Yellen United States Donald Trump Interest Rates Kevin Warsh Jerome Powell Alan Greenspan Inflation
Janet Yellen holds a news conference in Washington in 2023
Janet Yellen served as the Fed chair from 2014 to 2018, and was later the Treasury secretary. Photograph: Elizabeth Frantz/Reuters

The former US Federal Reserve chair Janet Yellen has attacked Donald Trump’s push for lower interest rates, comparing it to the actions of a “banana republic”.

The US president has repeatedly urged the central bank to slash interest rates, in the hope of cutting the government’s borrowing costs on its $39tn (£29tn) debt.

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