Bank of Canada Governor Tiff Macklem
- says Fed Chair Powell is doing very good job under trying circumstances
- Trump’s repeated attacks on the Fed are a concern
- says history shows central banks that have operational independence for monetary policy do a better job at delivering price stability for their citizens
- says accountability goes hand in hand with independence
- says he made his comments about the Fed now because it is starting to have consequences in financial markets
- there is a concern in the market that at precisely at the moment when you want that hedge the most, it may not be there any more
Earlier:
Justin posted an interesting piece earlier, on bargain bin buying of US assets as the USD and Ts slumped:
