Federal Reserve chair nominee Kevin Wersh said Monday that the central bank should be largely independent from political influence, but it should also remain focused on its primary goals.
In comments to the Senate Banking Committee on Tuesday, Wersh expressed a firm commitment to fighting inflation with only one mention of the labor market.
“Simply put, the Fed’s independence largely depends on the Fed itself,” the former Fed governor said.
He said, “The Fed must stay its course. The Fed’s independence is at greatest risk when it strays into fiscal and social policies where it has neither the authority nor the expertise.”
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