Federal Reserve officials agree that inflation needs to return to the central bank’s 2% annual target. Instead, the war with Iran has sent gas prices soaring, and price increases are starting to spread beyond the gas station. Last month, that prompted Fed officials to raise rates for the first time in three years to cool the economy and bring down inflation.
The Fed says it ignores politics. Its rate moves tell a more complicated story | CNN Business
Independence from elected officials isn’t just something Federal Reserve officials preach – it’s engrained in the central bank’s bylaws.
The Marriner S. Eccles Federal Reserve Board Building in Washington, DC. Even with the inflation picture worsening, the Fed is widely expected to hold rates steady at its Wednesday meeting.
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