If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.
Powell stressed the importance of political independence for the Fed.
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What keeps me awake at night is how do we get that done? I want to hand over to my successor an economy in good shape, and so do all of my colleagues, that's all we ever want.
without the ability to pay interest on reserves, the Fed would lose control over rates
We do not take into account the fortunes of any political party or politician.
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