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'It's politics, stupid' for the US Fed

Uncertainty over Brexit and Trump adds to concerns over a sluggish US economy and raises doubts about the timing of interest rate hikes.

NO AVOIDING POLITICS: Fed chair Yellen and members of the FOMC read the newspapers and browse the Internet, and they are not immune to the pressures of politics. At times, they even admit it.

Mr Donald J Trump.

GOVERNMENT officials led by the president and lawmakers in Washington, including the heads of the nation's central bank have reiterated time and again that the US Federal Reserve is a politically independent institution. Politics, including elections at home and abroad would never affect the...

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