Mario Draghi Says He’s Concerned About Fed Independence Amid Trump Attacks

Mario Draghi Says He’s Concerned About Fed Independence Amid Trump Attacks

On Saturday, Donald Trump and his administration received a rebuke from one of the most influential names in central banking. Speaking to reporters in Washington, Mario Draghi weighed in on the importance of central bank independence and he alluded to the US president in the process. "Central banking independence is very important... because the whole credibility of monetary policy hinges on that", Draghi said, adding that within their mandate, "central banks ought to be left free to choose wh
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3 thoughts on “Mario Draghi Says He’s Concerned About Fed Independence Amid Trump Attacks

  1. So the problem now becomes whom do you trust ? !! There is the whacko in the White House or maybe some unelected Banker somewhere in the halls of the bureaucracy to determine a fate we have fallen into because Congress is constantly deadlocked and beholden to it’s
    constituencies.
    This the toughest question of our times and seemingly there hasn’t been a workable solution.

  2. Ahh, the shades of Erdogan, Turkish islamist diktator who has his filthy hands into the Turkish Central Bank. As a result, the Lira has been steadily loosing value against all the world’s currencies accelerating the economic demise of the country. Well done, Sultan wanna be…

  3. Man, you can just feel it in the air. Draghi going out of his way to mention this I think goes hand in hand with USD reserve status.

    Demand for USTs is still strong cause they’ve got yield. But I will be watching those auctions closely for any sign of weakness. If we start to see weakness in UST auctions even with high yield differentials, USD will be in trouble. If Trump goes in 2020, there may be still hope. If Trump goes to 2024 though, USD reserve status will be seriously threatened in the coming decade. Something China I’m sure will be all to happy to capitalize on, especially as the belt and road gets underway.

    Long term, I think China is well positioned. They seem to be managing their credit bubble and economy very well, actually. Odds of soft landing are high, IMO.

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