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The European Central Bank publicly warned Trump: undermining the independence of the Fed could raise rather than drop borrowing costs.
BlockBeats news, on September 2, ECB Executive Board member Schnabel stated that undermining the independence of the Fed could backfire, raising rather than dropping borrowing costs, while also disrupting the entire global financial system. Schnabel said in an interview, "If the Fed loses its independence, it will cause huge damage to the global financial system and will also impact the Central Bank of Europe. I truly hope this does not happen." (Jin10)
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