Yellen Defends Fed Against Lawmaker Criticism on Independence
Yellen on Fed Accountability to Congress
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Federal Reserve Chair Janet Yellen said the central bank won’t let its independence be compromised and doesn’t allow the executive branch to influence monetary policy.
“The Federal Reserve is independent,” Yellen told the House Financial Services Committee on Wednesday in response to a question about her regular meetings with Treasury Secretary Jacob J. Lew. “I do not discuss monetary policy or actions we are going to take with the secretary.”