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- 🚗 #GateSquareCommunityChallenge# Round 1 — Who Will Be The First To The Moon?
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The European Central Bank publicly warned Trump: undermining the independence of the Fed could raise rather than drop borrowing costs.
According to BlockBeats news on September 2, ECB Executive Board member Schnabel stated that weakening the independence of the Fed could backfire, raising rather than dropping borrowing costs, and disrupting the entire global financial system. Schnabel said in an interview, "If the Fed loses its independence, it will cause significant damage to the global financial system and will also affect the Central Bank of Europe. I sincerely hope this does not happen." (Jin10)