The “Independent” Federal Reserve

                       

Central banks were set up for independent banking functions, on the premise it’s best for a country to keep its financial system from political influences.

                       

Politicians have always had a tendency to produce

financial and economic pressure to change any banking independence during stressful economic times.

                       

How are major central banks doing with regard to their current national financial crises?

                       

The Bank of England has been relatively independent until recently. The Bank of Japan has often has been politically directed.

                       

Congress, which always loosely supervised the Fed now wants audits and more disclosure, which exerts pressure.

                       

However, the Dodd-Frank Act  has the Fed go more deeply into the American economy than it had before, and the present Fed head,  has had a tendency to lean more to administration policy.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)