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From 2022, "Turkey’s Erdogan Fires Statistics Chief After Record Inflation": * https://www.wsj.com/world/middle-east/turkeys-erdogan-fires-statistics-chief-aft

• thisisit 1y ago
  Turkey is a good example here. Erdogan had also fired the Central Bank Chief when he refused to lower the interest rates: https://www.bbc.com/news/world-europe-48891658 https://www.bbc.com/news/world-europe-48891658 and then kept firing: https://www.reuters.com/article/world/middle-east/turkeys-erdogan-ousts-central-bank-governor-after-steep-lira-slide-idUSKBN27N024/ https://www.reuters.com/article/world/middle-east/turkeys-er... https://www.reuters.com/article/business/the-last-straw-why-an-irked-erdogan-fired-turkeys-central-bank-chief-idUSKBN2BN1I0/ https://www.reuters.com/article/business/the-last-straw-why-... His stated aversion to interest rates is religious and it causes economic divide. IMO, US might be on the same path albeit slower. This might become a revolving door if the calculation/facts from other sources continues to be bad. And once Jerome Powell leaves interest rates cuts will be pushed through making things worse.
  • vitorgrs 1y ago
    Worth to point out that he then manages to lower the interest rates by force, and then, surprise, inflation skyrockets.
  • AlecSchueler 1y ago
    > IMO, US might be on the same path albeit slower. Hasn't the US been speed running this for the past six months?