Fed rejects call to consider politics in policy decisions Former official says central bank should consider thwarting Trump’s re-election, sparking blowback By Nick Timiraos THE Federal Reserve said it rejected political considerations in its policy-making after one of its former top officials called for the central bank to consider the economic risks of President Trump’s re-election when setting interest rates.
Former New York Fed president William Dudley, in an article published Tuesday by Bloomberg Opinion, urged the central bank to reconsider its apolitical approach because, by cutting interest rates, it is enabling Mr. Trump to escalate trade wars that are harming the economy.
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