For decades, the Fed’s separation from political pressure has been treated as a foundation of economic stability, dividing expert-backed monetary policy from short-sighted political goals. If that barrier comes down, the aftershock will be felt well beyond Washington, causing further public distrust in the government.
Read MoreSo far, Jerome Powell and the Federal Reserve Board have done an admirable job of maintaining economic stability despite intense political pressure. However, uncertainty remains about the future of the Fed’s independence and its impact on both the domestic and global economy.
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