Alan Ahearne warns of financial crisis ‘worse than 2008’ if US president wins bid for lower interest rates
World is at risk of ‘mother of all financial crises’ if Donald Trump gains control of US Federal Reserve
A former economic adviser to Taoiseach Micheál Martin has said a move by Donald Trump to control the US Federal Reserve will leave Ireland at severe risk of being hit by “the mother of all recessions”.
The US president has been engaged in a battle to sharply reduce interest rates with the chair of the US central bank Jerome Powell, who fears “monetary policy will be directed by political pressure or intimidation”.