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Episode Description
In both economics and politics, there is a widespread view that central banks should be free of political pressure, with cautionary tales around the world of what happens when politicians meddle: out of control inflation, spiraling debt crises and economic collapse.
And with the U.S. Federal Reserve's independence now under attack by President Trump, WSJ chief economics correspondent Nick Timiraos joins business and finance editor Alex Frangos, markets reporter Chelsey Dulaney and senior markets columnist James Mackintosh for our roundtable podcast exploring the impact on today’s investors, markets and the economy.
Plus, Nick details the fallout from President Trump’s attempt to remove Fed Governor Lisa Cook and unpacks the historical context of what has shaped our idea of Fed independence, including the Great Depression, World War II and the high inflation of the 1970s.
And they discuss how politics can impact the Fed’s goal of regulating the economy and keeping inflation under control.
Further Reading
Fed Minutes Reveal Divide Over Outlook for Cuts
The Supreme Court Just Became the Last Line of Defense for Fed Independence
Supreme Court Allows Lisa Cook to Keep Her Job for Now
Fed Independence Reaches Its Moment of Truth as Supreme Court Weighs Cook’s Fate
Powell’s Last Stand: Balancing a Tricky Economy and Intense Political Pressure
Trump Says He Is Removing Fed Governor Lisa Cook
Appeals Court Rejects Trump Request to Remove Fed Governor Lisa Cook
Why the Market Doesn’t Care Much About Trump Firing the Fed’s Cook
Further Podcasts
The Federal Reserve Under Siege
Extreme Inflation From A to Z: Argentina
Extreme Inflation From A to Z: Turkey
Extreme Inflation From A to Z: Zimbabwe
For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on the Street Column and WSJ’s Live Markets blog.
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Send us an email to let us know what you think of the roundtable format: takeontheweek@wsj.com
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