Economist: The Federal Reserve is under "all-out attack" by Trump, and its independence is the key factor in maintaining the safe-haven status of US Treasuries and the US dollar

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On August 26, Saul Eslake, former chief economist at Merrill Lynch in Australia, stated that the dismissal of Federal Reserve Governor Lisa Cook marked a clear escalation of White House intervention following President Trump's push to reshape the U.S. federal government and its institutions. He added that loyalty appears to be a criterion for continuing in high-ranking public office. The independence of the Federal Reserve is a key factor in maintaining the safe-haven status of U.S. Treasuries and the dollar. The Fed is now under comprehensive attack, and this will not end well. (Jinshi)

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