There was an interesting new post at the Hill regarding President Trump’s involvement in the Fed’s decision regarding the Interest rate.
While the Federal Reserve’s July 31 decision to lower interest rates 0.25 percent likely made nary a ripple in your day, the move represents perhaps the most reckless political interference in the Fed’s 106-year history. The decision is no ripple, but an earthquake that has dire consequences for every American and even our neighbors across the world.
The Federal Reserve System operates as the central bank of our nation. Among its many responsibilities, the Fed shepherds America’s monetary policies to maintain price stability and maximum domestic employment. It monitors the health and fitness of our banks, big and small, and it seeks to minimize systemic risks to the U.S. financial system.
In short, with a guiding hand in every corner of our economy, the Fed is the bedrock underlying our entire economy.
The Hill has the complete story.