[ed. Don't hear public comments from a Fed Chairman too often... screw around with administrative, social, legal fields and you might notch a few wins. Screw around with the nation's monitary system and expect significant pushback (from both parties). See also: Chairman Powell’s Statement (MR):]
***
Whether an independent Fed is desirable is beside the point. The core issue is lawfare: the strategic use of legal processes to intimidate, constrain, and punish institutional actors for political ends. Lawfare is the hallmark of a failing state because it erodes not just political independence, but the capacity for independent judgment.What sort of people will work at the whim of another? The inevitable result is toadies and ideological loyalists heading complex institutions, rather than people chosen for their knowledge and experience.
[ed. And it all began with this: Trump Meets With Powell at Federal Reserve... leading to one of the most surreal political moments in recent memory.]
