A stooge in the US Fed could blow out inflation in Australia – but Trump is unlikely to get his way

Global consequences likely to be severe if the US president is able to take control of America’s central bankGet our breaking news email, free app or daily news podcastThe Reserve Bank could lose some control over its ability to set interest rates independently if Donald Trump is successful in his bid to take control of America’s central bank, experts warn.Ten days after the US Department of Justice announced a criminal investigation into the Federal Reserve’s chair, Jerome Powell, the supreme court on Wednesday will hear arguments in a legal case that will determine whether the president has the power to fire Lisa Cook, a member of the Fed’s board of governors. Continue reading...