The Turn From US Assets Isn't Just About Trust
Faith in US institutions is being shaken. But there’s more to the sell-off than just political infighting.
Jerome Powell, chairman of the US Federal Reserve.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
Central bank independence is over-rated.