Undermining trust in the Federal Reserve for short-term political gain is a recipe for higher costs and lower living standards for all Americans over time.
The Trump administration, Congress and the Federal Reserve are mired in a beltway clash over renovations to the central bank’s Washington headquarters. To an outside observer, this may appear to just be a fight over the cost of marble, but it could be something deeper.
Reports have surmised that the White House may be building a case to fire Fed chairman Jerome Powell for cause and replace him with someone more willing to follow the administration’s preferences in setting interest rates.
