President Trump’s public criticism of the Fed isn’t new. But this time around the Administration is preparing to turn words into action by setting in motion a challenge to the landmark 1935 Humphrey’s Executor ruling that has prevented presidents from removing officials of independent agencies without “cause”. How concerned we should be today about the threat to Fed independence — and the implications for the economy and markets — is Top of Mind.
-
Top of MindFed independence: how concerning?