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Inflation could 'roar back' if Fed independence compromised
Description
Chicago Federal reserve Chairman Austan Goolsbee says the removal of Fed independence would see inflation “roaring back” and the IMF managing director Kristalina Georgieva has pledged her support behind Jerome Powell who is under criminal investigation. However, U.S. Commerce Secretary Howard Lutnick tells CNBC that the Fed has ‘plenty of room’ to prompt further interest rate cuts. European equities hit another record high during Thursday’s session following bumper earnings from Taiwan’s TSMC. The result nudged European chip makers up and helped push the tech subindex to levels last seen at the start of the century. And a U.S. Congressional delegation are in Copenhagen to meet with Danish Prime Minister Mette Frederiksen to discuss the future of Greenland.
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