The Globe and Mail reports in its Wednesday, Sept. 24, edition that Bank of Canada Governor Tiff Macklem, while in Saskatoon, stated that President Donald Trump's unpredictable trade policies and efforts to affect the Federal Reserve have undermined the U.S. dollar's status as a safe haven and raised concerns about monetary policy independence. The Globe's Mark Rendell writes that Mr. Macklem noted that Mr. Trump's tariffs and large fiscal deficits are altering investor perceptions of the dollar. He said: "It's too early to know if this is the start of a new era. For now, the greenback remains dominant, and -- without a clear alternative -- I suspect it will remain the global reserve currency for the foreseeable future. But for many, its value as a hedge in times of stress has been dented." He added that Mr. Trump's attempts to influence the Fed "are raising questions about the continued independence of U.S. monetary policy." Mr. Macklem said, "Chairman Powell is doing a very good job under very trying circumstances, and he is guiding monetary policy based on evidence, not politics." He warned that a future loss of Fed independence could impact the global financial system and the U.S. economy.