Donald Trump's eventual return to the White House could pose a serious risk to the independence of the North American Federal Reserve, Rafael Gallardo, chief economist at French asset manager Carmignac, told media in Spain.

For this person whose asset manager has assets worth $41 billion (according to data at the beginning of the current year), it is very likely that the North American elections will cross the path of the Federal Reserve this year (record- the next tenant) the White House will be decided in November.

The question is, according to this expert: The Fed has doubts about whether June will be too early to make its first rate cut. But leaving this decision until a later time could be considered a kind of interference in the presidential elections. “Another Trump term would jeopardize the independence of the Fed,” highlights Rafael Gallardo.

For Donald Trump, a pre-election interest rate cut could be seen as a signal in favor of Joe Biden, and given the prospect of a new term for Republican Donald Trump, this would create a bad precedent in an already difficult relationship. Between Trump and Jerome Powell.

Jerome Powell was appointed by Donald Trump to lead the Fed in 2017, but the following year, the Republican criticized the Fed chair's policies, specifically the increase in borrowing costs and the spread between interest rates in the United States and those practiced in Europe.

Thus, Donald Trump indicated that he would not again bet on Jerome Powell to head the Fed if he wins the presidential election again, and has already accused the “strong man” at the Fed that US monetary policy could be favorable to restarting the economy. Joe Biden is elected in November.