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An independent central bank is “fundamental” to getting good economic outcomes, a senior Federal Reserve official said on Thursday, reports Agence France-Presse (AFP).
The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment – primarily by raising and lowering interest rates. Anything that undermines the Fed’s independence could spook traders in the financial markets, who might come to question if it could effectively tackle inflation over the longer term.
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