Can the Fed ignore political pressures as the presidential election approaches?

The central banks’ independence signifies that we entrust management of financial coverage to unelected technocrats, and grant operational autonomy to the central financial institution.
It’s a approach of ring-fencing financial coverage from the electoral cycle, with its doubtlessly inflationary penalties.
With out this independence, politicians may be tempted to stimulate the economic system to extend their probabilities of re-election.
Deep Dive: Divergence of MPC votes proves BoE’s avoidance of groupthink
It’s now properly documented that, in his bid for a second time period in 1972, Richard Nixon put strain on the then Fede…