Let me start there. No, but let's do just a little backup on what's going on right now with the Fed. Decades and decades and decades ago, Policymakers made a decision, and this was not Republicans or Democrats. It was everybody. They said, we need a Fed that is largely independent of the political process. And we need that because there's an underlying tension on monetary policy. Every president who's facing an election or his party is facing an election, which is every president, right, every two years is going to want to juice the economy. (49:37–49:47)
CLAIM
Asserts that the Federal Reserve was designed to be independent of political influence by bipartisan agreement.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
