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Nearly 600 Economists Sign Open Letter in Support of Federal Reserve's Powell
Summary: Following reports that former U.S. President Donald Trump attempted to dismiss Federal Reserve Board member Lisa Powell on allegations of mortgage fraud, prominent economists have come out in support of Powell. Nearly 600 economists have signed an open letter backing Powell, stating that the threshold for removing a Federal Reserve Board member is very high, ...
Following reports that former U.S. President Donald Trump attempted to dismiss Federal Reserve Board member Lisa Powell on allegations of mortgage fraud, prominent economists have come out in support of Powell. Nearly 600 economists have signed an open letter backing Powell, stating that the threshold for removing a Federal Reserve Board member is very high, and elected officials should avoid actions or statements that could undermine the central bank's independence. The letter, released on Tuesday, was signed by Nobel laureates Claudia Goldin and Paul Romer. Additionally, former Chair of the Council of Economic Advisers under President Barack Obama, Christina Romer, and Ohio State University professor Trevon Logan, who co-authored papers with Powell, also signed the letter.
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Link: Nearly 600 Economists Sign Open Letter in Support of Federal Reserve's Powell [Copy]
