Christine Lagarde, head of the European Central Bank, has warned that Donald Trump's undermining of the US Federal Reserve's independence would pose a "very serious danger" to the global economy. She stated that politically dictated monetary policy would have "very worrying" impacts on economic stability, first in the US and then globally.

• Trump has repeatedly attacked Federal Reserve Chair Jerome Powell and attempted to fire governor Lisa Cook last month.
• The Fed's current target interest rate is 4.25% to 4.5%, while Trump desires it reduced to less than 1%.
• Lagarde noted that it would be "difficult" in practice for Trump to control the Fed's policies, citing US Supreme Court rulings on governor dismissals and the composition of the rate-setting committee.