"Alan Ahearne warns of financial crisis 'worse than 2008' if US president wins bid for lower interest rates"
"A former economic adviser to Taoiseach Micheál Martin has said a move by Donald Trump to control the US Federal Reserve will leave Ireland at severe risk of being hit by "the mother of all recessions"."
"The US president has been engaged in a battle to sharply reduce interest rates with the chair of the US central bank Jerome Powell, who fears "monetary policy will be directed by political pressure or intimidation"."
Alan Ahearne, a former economic adviser to Taoiseach Micheál Martin, warns that a move by Donald Trump to control the US Federal Reserve and force down interest rates would expose Ireland to severe economic risk. Ahearne cautions that political interference in the central bank could precipitate a financial crisis worse than 2008 and potentially produce "the mother of all recessions" for vulnerable economies. The US president has been engaged in a public battle with Federal Reserve chair Jerome Powell over sharply reducing interest rates. Powell fears monetary policy could be directed by political pressure or intimidation, which would undermine financial stability and increase global economic vulnerability.
Read at Independent
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