We All Benefit from an Independent Federal Reserve

To many, the fight between President Donald Trump and the Federal Reserve Chair Jerome Powell may seem just one of the many ongoing skirmishes as the MAGA movement attempts to root out and reclaim “elite” institutions—the so-called “Deep State” which has dictated the country’s future behind the scenes.

It is reasonable for a political movement to question the need for old institutions. Some institutions, however, are worth preserving. An independent Fed is one of them. And we shouldn’t preserve Fed independence for old times’ sake.