European Central Bank Issues Public Warning to Trump: Undermining Fed's Independence Could Raise, Not Lower, Borrowing Costs

BlockBeats News, September 2nd, European Central Bank Executive Board Member Schnabel stated that undermining the Federal Reserve's independence could backfire, raising rather than lowering borrowing costs, and also disrupting the entire global financial system. Schnabel said in an interview, "If the Federal Reserve loses its independence, it will cause tremendous damage to the global financial system and will also have an impact on the European Central Bank. I really hope this will not happen." (FXStreet)