Christine Lagarde, President of the European Central Bank, warned on Monday that U.S. President Donald Trump’s possible removal of Federal Reserve Chair Jerome Powell or Fed Governor Lisa Cook would create “a very serious danger for both the U.S. economy and the global economy.”
In an interview with French broadcaster Radio Classique, Lagarde expressed concern over the potential loss of independence in U.S. monetary policy.
“If U.S. monetary policy were no longer independent but instead subject to the directives of one person or another, I believe the impact on the balance of the U.S. economy—given the consequences this would have globally—would be deeply troubling, because it is the world’s largest economy,” Lagarde said.
Her remarks come amid growing speculation about possible changes to the Federal Reserve’s leadership should Trump secure a second term.