UMich’s Stevenson on Fed Report, Inflation Reading
Economist Betsey Stevenson discussed an Inspector General report regarding Federal Reserve renovations, noting it cleared officials of criminal wrongdoing. She emphasized the importance of maintaining the Federal Reserve's independence from presidential influence.
Betsey Stevenson said the Inspector General’s report finding no criminal wrongdoing in the Fed renovations confirms what many already suspected: the investigation was about a president pushing against the Federal Reserve’s independence. She argued Jerome Powell respected the institution’s need to stay separate from presidential influence because the Fed’s job is to keep prices stable and employment at maximum sustainable levels. She speaks with Romaine Bostick & Emily Graffeo on "The Close."…
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