Trump(dis)order: Worst is not attack on Fed Chair Jerome Powell but weakening strength of US institutions

Central bankers are always at the receiving end when it comes to dealing with political authorities.

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As I have argued elsewhere, central banks are an organ of society and not of the political authorities. ⁵ They have a mandate to keep the value of money they have issued at a stable level. Therefore, they are to serve the people and not the political authorities. But the political authorities get angered by central bank's action when such action does not serve their narrow objective of remaining in power. In this context, it is not only Jerome Powell who has been attacked unfairly by political authorities who believe that they have superpowers to direct central banks to work for them. There are many other central bank heads who have received the same treatment from political authorities