KUALA LUMPUR — What the US Federal Reserve (the Fed, the equivalent of America's central bank) sees as persistently high domestic inflation is mainly a consequence of the economic stimulus package that was rolled out one after another by both the Donald Trump and Joe Biden administrations in their effort to resuscitate what they saw as flagging...
KUALA LUMPUR — What the US Fed eral Reserve sees as persistently high domestic inflation is mainly a consequence of the economic stimulus package that was rolled out one after another by both the Donald Trump and Joe Biden administrations in their effort to resuscitate what they saw as flagging American economy during the coronavirus pandemic. There were cash subsidies for targeted industries, and there were infrastructural buildups.
It was meant to be a technical agency the leaders of which would be enabled to exercise their professional wisdom and consideration in stabilizing and developing the US economy. It was feared that if the Fed were to be placed under direct presidential supervision, it would not provide the kind of technical and professional check and balance against the fiscal and financial policies of the administration, and that would be counterproductive to the healthy functioning of economic regulation.
Fed Independence And Interesting Rates
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