ECB Executive Warns Against Undermining Federal Reserve's Independence

According to BlockBeats, European Central Bank Executive Board member Isabel Schnabel has expressed concerns about the potential consequences of weakening the Federal Reserve's independence. Schnabel stated that such actions could inadvertently increase borrowing costs rather than reduce them, while also disrupting the global financial system. In an interview, she emphasized that the loss of independence by the Federal Reserve would have significant repercussions on the global financial landscape and impact the European Central Bank. Schnabel expressed her hope that this scenario does not occur.