Economist: Trump's Firing of Cook Could Disrupt US Government Budget

BlockBeats News, August 26th, Chief Economist of Economics Unchained, Stephen Harnmalek, stated that since the early 1990s, the independence of central banks has been one of the cornerstones of the global financial system, so attempts to weaken the independence of the Federal Reserve are worrisome. If Federal Reserve Chairman Powell is removed from office, the appointment of a new chair will be directly influenced by the President, which will not be welcomed by the financial markets and may instead lead to a rise in bond yields, a development that is crucial for the management of U.S. government debt. (IG)