The Idea That the Fed Is ‘Independent’ Is Absurd

The Federal Reserve is the prime mover of crony capitalism and the Fed chair is arguably the second most powerful person on earth. But he’s not the most powerful, that is still the US president. (Most of the time.)

(From The Independent Institute)

I’m letting them [the Fed] do what they feel is best,” he added, but this assurance was not enough to prevent journalists and policy experts from pronouncing Trump’s remarks as unprecedented interference with the central bank’s independence.

It may be unusual for a president to openly voice such criticism, but it wouldn’t be the first time one has pressured the Federal Reserve for short-term political gain.

Trump just did it in public and as such invited criticism. (As he often does.)

Click here for the article.