UBS On-Air: Paul Donovan Daily Audio 'Economists versus politicians'
UBS On-Air: Market Moves · Podcast owner
September 20, 20242m 11s
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Show Notes
US politics keeps resurrecting ideas from the 1970s—most recently questioning central bank independence. Some economists argue that Federal Reserve Chair Powell is the worst central bank head since Fed Chair Burns (who served US President Nixon). Burns was independent in theory, but not in practice. Former US President Trump suggested this week’s rate cut was political in nature, and that the Fed should be more under his control. US President Biden defended Fed independence yesterday.