Waylon Wong

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.

Right. The president appoints the members of the Federal Reserve Board. The Federal Reserve's goals, low inflation and high jobs, are set by Congress. And the agency is accountable to Congress.

Right. The president appoints the members of the Federal Reserve Board. The Federal Reserve's goals, low inflation and high jobs, are set by Congress. And the agency is accountable to Congress.

Right. The president appoints the members of the Federal Reserve Board. The Federal Reserve's goals, low inflation and high jobs, are set by Congress. And the agency is accountable to Congress.

That didn't mean that presidents didn't try to influence the Fed. Like think of Arthur Burns, Fed chair in the 1970s.

That didn't mean that presidents didn't try to influence the Fed. Like think of Arthur Burns, Fed chair in the 1970s.

That didn't mean that presidents didn't try to influence the Fed. Like think of Arthur Burns, Fed chair in the 1970s.

The Bank of Japan, the Bank of Mexico, and the Bank of England became independent in the 1990s. The European Central Bank was built as independent from day one. And the evidence suggests that independence works to control inflation.

The Bank of Japan, the Bank of Mexico, and the Bank of England became independent in the 1990s. The European Central Bank was built as independent from day one. And the evidence suggests that independence works to control inflation.

The Bank of Japan, the Bank of Mexico, and the Bank of England became independent in the 1990s. The European Central Bank was built as independent from day one. And the evidence suggests that independence works to control inflation.

Exactly. Carolina also talks about countries that have eroded their central bank independence.

Exactly. Carolina also talks about countries that have eroded their central bank independence.

Exactly. Carolina also talks about countries that have eroded their central bank independence.

That said, Kerala says the public does want accountability. Like, how did we even get such high inflation? What went wrong? How can we avoid that happening again?

That said, Kerala says the public does want accountability. Like, how did we even get such high inflation? What went wrong? How can we avoid that happening again?

That said, Kerala says the public does want accountability. Like, how did we even get such high inflation? What went wrong? How can we avoid that happening again?

Trump signed an executive order in mid-February to make sure agencies follow the president's priorities. It put tighter control on how these agencies spend and regulate. And it applied to agencies like the Securities and Exchange Commission, the Federal Trade Commission, and the Federal Reserve.

Trump signed an executive order in mid-February to make sure agencies follow the president's priorities. It put tighter control on how these agencies spend and regulate. And it applied to agencies like the Securities and Exchange Commission, the Federal Trade Commission, and the Federal Reserve.