The Biden administration has reaffirmed its support for an autonomous Federal Reserve amid reports of former President Donald Trump‘s intentions to influence U.S. monetary policy. What Happened: The White House Council for Economic Advisors underlined the importance of central bank independence in a blog post on Wednesday, as reported by Reuters. The CEA highlighted the historical evidence suggesting that central banks under political control perform poorly, while independent central banks are more effective in managing inflation. The CEA blog post stated, “We in the Biden administration are h…
