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UBS On-Air: Paul Donovan Daily Audio 'Prosecuting policy'
Published 4 days, 14 hours ago
Description
The US Department of Justice launched a criminal investigation into the Federal Reserve and Fed Chair Powell. In an unusually explicit statement, Powell suggested that this was because of the Fed’s refusal to meet US President Trump’s demands for rate cuts. Bond and currency market reactions signal concerns this may be a challenge to Fed independence.