Economists petition lawmakers for Fed independence


A group of prominent American economists have petitioned Congress and the Executive Branch to reaffirm their support for the Federal Reserve's monetary independence.

In their Petition on Fed Independence, the economists warned a lack of central-bank independence posed three risks to the economy.

The economists said independence was "essential" for curbing inflation and that lender of last resort decisions should not be politicised. Calls to alter the structure or personnel selection of the Feder

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