|12-29-2018, 05:15 PM||#1|
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FEDERAL RESERVE ADMITS IT'S INDEPENDENCE: Stanley Fischer, Former Vice-Chairman
Don't do it': Trump's criticism of central bank could backfire, warns former vice-chair
Stanley Fischer says U.S. president is challenging Federal Reserve's independence
CBC News · December 28, 2018
Stanley Fischer worked as vice-chair of the U.S. Federal Reserve under presidents Barack Obama and Donald Trump, from 2014-2017. He was previously governor of the Bank of Israel. AP
When it comes to U.S. President Donald Trump's criticism of the Federal Reserve for hiking interest rates this year, a former vice-chair of the central bank has one message for him: "Don't do it." Trump's remarks could backfire on him by encouraging a further rise in interest rates, rather than a decline, Stanley Fischer told The Current's guest host Piya Chattopadhyay "And when you challenge its independence, it has to demonstrate its independence."
"my biggest threat."
U.S. President Donald Trump isn't happy with the central bank. He claims its hurting the stock market. The president argues rising interest rates could hurt the stock market, and some investors have been equally wary.
'''Don'''t do it''': Trump'''s criticism of central bank could backfire, warns former vice-chair | CBC Radio
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