Trump Is Laying the Groundwork to Blame Powell for Any Downturn
President Trump is signaling that he will blame the Federal Reserve for any economic weakness that results from his trade war if the central bank doesn’t cut interest rates soon. In the process, he might also be seeking to delegitimize the historically independent institution in a way that could undermine its effectiveness. In a social-media post on Monday, Trump repeated last week’s demand that the Fed reduce interest rates now. “There is virtually...
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