Editorial: El Mundo

• Trump's intervention in the Federal Reserve represents a serious episode in his term.
• Control of price stability cannot depend on the political or personal needs of the ruling authority.
• Trump seeks to reduce interest rates to stimulate the economy during the election year.
• A negative effect could be spiraling inflation and loss of confidence in the dollar as a reserve currency.
• Trump's attack on the Federal Reserve is not standalone; he has previously tried to sideline advisor Lisa D. Cook.
• The balance of power in US democracy shows resistance to Trump.
• The European Central Bank supports the Federal Reserve, underscoring the global importance of its independence.
• The ECB should consider the counterproductivity of having more political figures on its board.

Conclusion: Trump's interference in the Federal Reserve threatens world financial stability and challenges the principles of central bank independence.

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