Despite Donald Trump’s assurances that he will not seek to remove Federal Reserve Chair Jerome Powell, there is little doubt that the US president-elect aims to gain greater influence over the Fed’s decision-making. Such interference could drive up long-term interest rates, damaging the American economy.
worries about the incoming US administration’s plans to weaken the central bank’s independence.
Following the addition of new members to the BRICS, some observers believe that the group has a good chance of becoming the new lodestar of global politics and international affairs. But the organization is neither representative enough nor sufficiently united to lead others.
explains why the group of major emerging economies will not become the new fulcrum of world politics.