Markets

Trump keeps bashing the Fed, calling the central bank ‘loco’ and ‘crazy.’ An ugly economic lesson from the Nixon administration shows why his criticism is so worrying.

President Donald Trump has taken aim the Federal Reserve’s current path of interest-rate hikes. Trump called the Fed “crazy” and “loco” in interviews. The criticism revived concerns about the US Federal Reserve’s political independence. Presidents have pressured the Fed before, most notably Richard Nixon. Nixon convinced then-Fed Chairman Arthur Burns […]
Trump keeps bashing the Fed, calling the central bank ‘loco’ and ‘crazy.’ An ugly economic lesson from the Nixon administration shows why his criticism is so worrying.