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Trump vs. the Fed: Summers warns of a credibility crisis #shorts #fed #trump #powell #lisacook
I think we're on the foothills of a credibility crisis. We're not there yet because people believe that ultimately US in institutions endure and uh succeed. But between the president's demand that interest rates be cut by 3 percentage points, which no economist anywhere has endorsed any idea of that kind, between the harshness of the president's rhetoric visav uh chairman uh Powell, between the extraordinary effort to fire a sitting uh Fed governor with no kind of due process surrounding the fore cause prov ...