Deutsche Bank Survey: Majority of Financial Industry Professionals Concerned About Federal Reserve Independence Erosion

BlockBeats News, October 16th: Over the past few months, the White House has exerted tremendous pressure on the Federal Reserve, and President Trump is preparing for the key decision of appointing a new Federal Reserve Chair for next year. Against this backdrop, Deutsche Bank conducted a survey of 62 financial professionals to understand their concerns about the Federal Reserve’s independence. The survey results showed: “Most respondents believe that the Federal Reserve’s independence in monetary policy is likely to be substantially weakened.” Among them, 41% of respondents believe this situation is “more likely,” and 21% believe it is “very likely.” When asked about the potential impact of losing independence, respondents generally expect the Federal Reserve’s benchmark interest rate to decrease, GDP growth to accelerate, financial market asset prices to rise, and inflation levels to remain at a higher level. (FXStreet)