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Concerns Rise as Trump Management Targets independence of key Economic Institutions
WASHINGTON D.C. – Recent developments, including the resignation of Federal Reserve board member Michelle Bowman’s Senior Advisor, Robert Cogar, are fueling concerns that the Trump administration is actively seeking to reshape the leadership of key economic institutions to align with its policy preferences. This comes amid ongoing scrutiny of President Trump’s public criticisms of Federal Reserve Chairman Jerome Powell and calls for lower interest rates.
The appointment of individuals perceived as less self-reliant and more amenable to the administration’s desire for interest rate reductions is raising alarms among economists and investors. This follows a pattern of public pressure exerted by president Trump on Chairman Powell, dating back to August 2018, when Trump first publicly criticized the Fed’s rate hikes in an interview with CNBC.Cogar’s departure,
