Jerome Powell proves the Fed’s ‘independence’ is a myth

Jerome Powell proves the Fed’s ‘independence’ is a myth

One of the least understood but most consequential aspects of American government is the United States Federal Reserve System. Bankers, investors, and even the president sit with bated breath, waiting to see how the Fed will manage interest rates.The Fed is so important to the world economy that the president sometimes may feel the need to voice his administration’s position and hope the chairman of the Federal Reserve will acquiesce to his wish…