Economists: The Fed is under "full attack" from Trump, and its independence is a key factor in maintaining the safe-haven status of U.S. Treasuries and the dollar.

On August 26, former chief economist at Merrill Lynch in Australia, Saul Eslake, stated that the dismissal of Federal Reserve Board of Governors member Lisa Cook marks a clear escalation of White House intervention following President Trump's push to reshape the U.S. federal government and its agencies. He added that loyalty seems to be a criterion for continuing to hold senior public office. The independence of the Fed is a key factor in maintaining the safe-haven status of U.S. Treasury bonds and the dollar. The Fed is now under full attack, and this will not yield good results. ( Jin10 )

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