By SIMON CONSTABLE
The Federal Reserve prides itself on being independent. The idea is that the policy makers of the Federal Open Market Committee should make decisions to further the twin goals of stable prices and full employment. And they should do so without regard to what the different political parties want. That's the idea anyway.
The Federal Reserve prides itself on being independent. The idea is that the policy makers of the Federal Open Market Committee should make decisions to further the twin goals of stable prices and full employment. And they should do so without regard to what the different political parties want. That's the idea anyway.
The question on the mind of many is whether those very important policy makers are actually now being swayed. After all, Fed Chair Janet Yellen get grilled with some frequency in Congress, and there are powers that stand to make a ton of money if they could persuade the country's central bank to move interest rates in one direction or another.
Charlie Bilello, Director of Research at Pension Partners addresses the question in this video. Curiously enough, Bilello and I are about two blocks away from the New York Fed as we film this interview.