Waters on Fed Interest Rate Decisions: Independent Fed is Critical
In response to the Federal Reserve’s decision to raise the target range for the federal funds rate, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:
“While I am concerned that this decision may slow the progress that continues to be needed for many vulnerable Americans, this is an important time to reaffirm that judgments on monetary policy must be left to an independent Federal Reserve. Republicans have consistently worked to curtail the Fed’s toolkit, mandate and discretion, and recently rushed a measure to the House Floor that would compromise the long-established independence of its monetary policy decisions. Efforts such as these would ultimately be harmful for hardworking American families. An independent Fed, focused on the dual objectives of full employment and price stability, is key to promoting a stronger and healthier economy over the long run.