Maximum employment? Fail.
Stable prices? Fail.
Fool me once? Shame on you. Fool me 7028 times? Strike 3.
I would like some independence from The Fed.
STOCKHOLM (Reuters) -The Federal Reserve’s independence from political influence is central to its ability to battle inflation, but requires it stay out of issues like climate change that are beyond its congressionally established mandate, Fed Chair Jerome Powell said on Tuesday.
“Restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy. The absence of direct political control over our decisions allows us to take these necessary measures without considering short-term political factors,” Powell said in remarks to a forum on central bank independence sponsored by the Swedish central bank.
h/t Shanobido47