FED INDEPENDENCE IS ALREADY DEAD: TRUMP WILL GET HIS MONETARY BAILOUT (The Telegraph) Central banks have no God-given right to independence. Nothing in the US constitution authorises the US Federal Reserve to act as a shadow government, and nor should it have such powers under any theory of accountable democracy. One can admire the gentlemanly altruism of Fed chairman Jerome Powell, and one can deplore the motives and methods of Donald Trump, while also conceding that Trump is accidentally right on the perils of overmighty technocrats. The Fed has slipped its leash. Full article: https://www.msn.com/en-us/money/markets/fed-independence-is-already-dead-trump-will-get-his-monetary-bailout/ar-AA1HKVsd?ocid=msedgntp&pc=HCTS&cvid=87b6a9c9e8e445859e3ebfc0a440f2d6&ei=15