Will the ECB’s independence hold firm?

Since his return to the White House, President Donald Trump has frequently attacked Jerome Powell, Chair of the Federal Reserve, for not lowering interest rates more quickly. Concern over political intervention has not only upset markets but has led to question the independence of central banks. Will the European Central Bank (ECB) see similar hounding soon? Morningstar experts believe that the make-up of the ECB means that it would be tough for this to happen. Unlike the Fed, where members are appointed by the President, ECB members are elected by the European Council; the power is more widely...