Trump's shock on central bank sustainability. Will they be restructured or be an extinct bird?
Article's purpose and background The purpose of this article is to highlight the possibility of favorable effects of the US President Donald Trump's expected intervention in the US Central Bank, Federal Reserve (Fed), on central banks across the world. Its background is as follows. Donald Trump at his political campaign for the US Presidency effective from 20 January 2025 made a promise to establish the Department of the Government Efficiency (DOGE) co-headed by Elon Musk and Vivek Ramaswamy. The promised mandate of the DOGE was to audit federal agencies, cut wasteful spending and reduce fiscal spending by about US$ 2 trillion to cut the fiscal deficit. The other objective of the DOGE is to cut the deep federal bureaucracy in order to further promote the market-based economy. Accordingly, the DOGE has commenced a swing of examining of spending of federal agencies and detected a large number of unproductive spending. As the first step, the DOGE team has got the access to the...