Billionaire Ken Griffin says Trump plays a risky game with the Federal Reserve Bank

The billionaire Count Ken Griffin as one of those in the business community who doubts President Trump’s hostility towards the Federal Reserve.

Griffin, the founder and head of Citadel CEO and supporter of the President, criticized Trump’s “interventions” in the central bank’s policy in the Wall Street Journal, which was published on Sunday.

“While the United States benefits from a large group of credibility over decades, it is not without limits,” Griffin wrote in the key that he participated in his authorship with the Professor of Business at the University of Chicago. “If it is eroded, the markets require much higher interest rates for long -term debts.”

Trump has prompted Federal Reserve Chairman Jerome Powell to reduce interest rates for several months, and Powell often mocks the Federal Reserve’s failure. Powell, who was appointed by the president in the job during his first term, chose to do this since last September.

This is not the only way Trump has entered himself into federal reserve affairs. Last month, the president said he was shooting at the Governor’s Council member Lisa Cook due to allegations of mortgage fraud.

Cook, noting that the federal reserve derives its independence from Congress, filed a lawsuit against Trump because of this step. Last week, multiple outlets stated that the Ministry of Justice had opened a criminal investigation into Cook.

Griffin and Kashib added: “In the worst case scenario, if the Federal Reserve Bank is clearly bowed to political pressure and allows inflation to rise without deterrence, then tens of millions of retired Americans will witness that their savings are diminished.” “Senior voters – who carry inflation – can be expensive in the middle of the time.”

They also criticized Trump’s shooting for the former work statistics office, Erika Minarker. Trump McNTarfer refused in August after the office job report showed worse employment data in May and June than I mentioned earlier. As an alternative to her, Trump appointed EJ Antoni, loyal to a history of provocative comments on social media and cable news, according to WIRED and CNN. Anthony’s appointment is subject to confirmation of the Senate.

According to the latest CBS News/Yougov survey, which was conducted earlier this month, 68 percent of respondents believe that the Federal Reserve should be independent of the executive branch – where 32 percent said that the central bank should take directives from Trump. In addition, 30 percent of the respondents said that Trump should replace the members of the Governor’s Council of the Federal Reserve who disagree with him, while 70 percent said that the president should not do so.

“Maintaining credibility is essential because it benefits all Americans by maintaining less money borrowing costs, supporting sustainable growth, and maintaining global confidence in American institutions. Once it is lost, it is expensive and takes a long time to rebuild.”