Wednesday, August 7, 2019

Janet Yellen says the Fed should be independent

There have been other times when chairs have faced pressure. But I think this is, to make it so public and so critical of the chair and threatening, I think is a first. There is a great deal of pressure. I think that's clear, and that's what motivated us to write the op-ed.

It's the job of the Senate to make sure nominees ascribe to that principle. And to appoint individuals who intend to make politically based decisions really is undermining the independence of the Fed.