Jean-Claude Trichet Has Full Confidence in FOMC

The transcript discusses the influence of politics on central banks, particularly the ECB, and the collective decision-making process within the ECB. It examines the US Federal Reserve's accommodating policy, including low interest rates and a large balance sheet, and its potential shift towards less accommodation. The discussion also covers the global financial interdependence, highlighting how policies from the ECB and BOJ impact the US bond market and the interconnectedness of global economies.

What are the implications of maintaining a $4 trillion portfolio for the Fed's accommodating policy?

Discuss the interdependence of global economies as mentioned in the text.