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What Trump's Fed power play could mean
For years, Donald Trump has railed against the Federal Reserve, routinely criticizing and threatening its chair Jerome Powell and demanding he get his own way on interest rates. However, his declaration on Monday night that he would remove the US central bank's governor Lisa Cook from office with "immediate effect" took things to a new level. Experts say the move is unprecedented and represents the most serious threat to the Fed since it became independent almost three quarters of a century ago. The move comes after a sustained campaign of pressure on Powell from Trump, when he has been demanding Powell lower ... (full story)
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