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What If Trump Subdues the Fed?

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The past half-century has shown that a competent, independent central bank is the best guarantor of price stability. By vowing to bring monetary policymaking under his control, US President-elect Donald Trump is threatening a pillar of American prosperity.

TILBURG – Back in August, Donald Trump announced that, if elected, he would try to amend the Federal Reserve Act to give the president a larger say in monetary policymaking. Now that he is heading back to the White House, is central-bank independence on the chopping block?

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