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Former Federal Reserve economist: Trump's impact will last for a decade, the Fed should avoid "going to war"
6hours ago

Odaily Planet Daily reported that Claudia Sahm, a former Federal Reserve economist and founder of the "Sam Rule," wrote that Trump's attempt to remove Federal Reserve Governor Cook is a blatant escalation of the current administration's long-standing pressure on the Federal Reserve and a frontal attack on the independence of the Federal Reserve. Cook's term will expire in 2038, and Trump should not have any influence on her position. However, he is trying to reshape the Federal Open Market Committee, and this impact will not only be limited to the near future, but will extend to the next decade. If Powell continues to serve as a governor, it will send a message to the White House that its pressure actions will come at a price: he will become the "shadow Federal Reserve chairman" that the White House wants to avoid. The Federal Reserve should not "go to war" with the White House because it cannot win, and in any case, fighting with elected officials should be avoided. (Jinshi)