That's a good question.
First, we have to ask why the independence of central banks is important, and the reason is simple. History has shown us that central banks that have operational monetary policy independence are more effective in stabilizing and keeping inflation low and stable.
In the United States, the president issued multiple threats about the federal reserve. So far, and particularly under Mr. Powell's tenure as chair, I think the reserve has made decisions based on facts and analyses and not on political factors.
Kevin Walsh is probably going to be the next chair of the federal reserve. I know him, and we worked together during the 2008 financial crisis. He answered several questions during his confirmation hearing, and I believe the same culture and approach will continue.
I recall making a few remarks on this issue because the U.S. federal reserve is the biggest central bank in the world. It's lack of independence would affect us all.
