Fed-bashing Trump has chance to remake central bank
It’s Donald Trump’s Fed now. Trump relentlessly attacked the Federal Reserve on the campaign trail, saying Chair Janet Yellen was refusing to raise interest rates in a bid to artificially boost the economy and help Democrats. “She is very political,” he said in September, and “she should be ashamed of herself.” … It’s also unclear what a different regulatory philosophy might mean for the hard-fought negotiations over international standards known as Basel III; will Trump-appointed regulators even implement them? “Automatic adherence to global standards” will no longer be a given, said Karen Shaw Petrou, a managing partner at Federal Financial Analytics.