Powell: Fed will do better on inflation if it maintains independence

Federal Reserve Chairman Jerome Powell said that if the Federal Reserve maintains its independence, it will do a better job on inflation. The Fed needs to maintain a high degree of transparency, which requires the Fed to remain independent. A strong response has been made to inflation, which has helped anchor inflation expectations. Powell said that in making decisions, the Fed does not consider the interests of any political party. Political factors will probably be a distraction.