Central bank independence is a subject that has leapt from the dusty precincts of academia to center stage because of Donald Trump’s attacks on the Federal Reserve. Jerome Powell’s Western peers have rallied to his cause. They fear a hostile Fed takeover would destabilize markets, forcing the cost of US debt to rise and creating doubts about whether the country would provide dollar liquidity abroad in any future crisis.
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Christine Lagarde's World Has Been Upended by Hard Politics
