Lena Petrova: Trump Hijacks the Fed, Economic Crisis Looms

The Federal Reserve, the central bank of the United States, has long been regarded as a bastion of independence, making monetary policy decisions based on its dual mandate to achieve maximum employment and price stability. However, recent developments have raised concerns about the potential erosion of this independence, posing a significant threat to the stability of the US economy and the global financial system. At the center of this controversy is Fed Chair Jerome Powell, who is currently under a criminal probe. Powell has asserted that this probe is politically motivated, stemming from his refusal to acquiesce to President Trump’s…