Question

Should the Federal Reserve System remain independent? (Minimum 100 words)

Answer 1

The Federal Reserve, like many other central banks, is an independent government agency but also one that is ultimately accountable to the public and the Congress. The independence of the Federal Reserve helps to ensure that it can make politically difficult decisions that are in the long-run best interest of the economy, just as the independence of the judiciary branch helps ensure adherence to the rule of law, even when those decisions are politically unpopular.

But this independence does not make the Federal Reserve immune to threats from the executive branch or Congress.