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Economist: Powell's Investigation Could Further Undermine the Public Credibility of the Federal Reserve, Successor Must Implement Reforms
On January 12, Allianz Chief Economic Advisor Mohamed El-Erian stated that the current situation could expose deeper issues, further weakening the already fragile public trust in the Federal Reserve. Several months ago, I suggested that the chairman should resign to maintain the independence of the Federal Reserve, and the concern at that time was precisely this scenario.
What is urgently needed now is for the next chairman to be committed to implementing necessary reforms to restore the effective operation of the world's most influential central bank. (Jin10)