Beat Wittmann: «Trump is 'the End' of Central Banking as We Know It

Beat Wittmann, Porta Advisors

Beat Wittmann, Porta Advisors

The surprising election win for Donald Trump is raising questions across a range of policy areas, says Swiss finance expert Beat Wittmann.

Donald Trump's policies are «about spending money and then printing money, so it's the end of central banking as we know it since the beginning of the (1980s),» Beat Wittmann, partner and chairman at Zurich-based firm Porta Advisors, told «CNBC».

The president-elect wants to provide the economy with a strong fiscal stimulus, promising to invest $1 trillion on infrastructure and cutting taxes. But, according to several analysts, this strategy is set to increase inflation as well as the U.S. budget deficit. If these inflationary pressures materialize, the Federal Reserve could be forced to tighten its policy at a faster pace.

«I think she is very political,» Trump said in September regarding Janet Yellen, the chair of the Fed. «And to a certain extent, I think she should be ashamed of herself,» he added. Trump has often criticized the central bank regarding its independence.

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