The independence of the Federal Reserve depends on the central bank’s ability to think about issues with a long-term vision, rather than the shorter electoral cycles that may reflect the thinking of elected politicians, declared, this Thursday (5), the head of the Atlanta Fed, Raphael Bostic.
“If we want to do our jobs well, we have to think long-term,” Bostic, who steps down at the end of February, said in remarks at Clark Atlanta University as the U.S. central bank faces continued pressure to cut interest rates.
“People should be able to say what they want to say, but at the end of the day, we have to come back to our terms and figure out how this fits into that long-term horizon,” he argued.
