'We shouldn't ignore this:' Longtime investor Rebecca Patterson warns Trump could damage Fed independence
1. Trump's efforts to fire Fed Governor Cook threaten central bank independence. 2. Politicizing the Fed could erode legitimacy and harm the economy. 3. Short-term rate cuts may boost stock prices but harm long-term growth. 4. Higher inflation and reduced consumption may negatively impact stock earnings. 5. Similar past patterns in other countries suggest caution for the U.S. economy.