Former US Fed chair says lowering rates to reduce debt service cost can lead to inflation getting out of control
The former US Federal Reserve chair Janet Yellen has attacked Donald Trump’s push for lower interest rates, comparing it to the actions of a “banana republic”.
The US president has repeatedly urged the central bank to slash interest rates, in the hope of cutting the government’s borrowing costs on its $39tn (£29tn) debt.
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This article was originally published by The Guardian and written by Heather Stewart.
Read original article on The Guardian