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Fed independence could take hit from Supreme Court

Jerome Powell, the Federal Reserve Chair, emphasized the importance of the Fed's independence from political influence, stating that it is crucial for maintaining low inflation and fostering a healthy economy. He argued that the Fed's independence is protected by law, but recent actions by the Supreme Court, such as the decision to overturn the Chevron deference, have raised concerns about the potential for increased political interference in the Fed's decision-making process. The Supreme Court's ruling could lead to more challenges against the Fed's regulations, potentially undermining its ability to act independently and effectively manage monetary policy. Powell's comments highlight the ongoing tension between the need for an independent central bank and the potential for judicial and political forces to reshape the Fed's authority and operations.

Read the Full Fortune Article at:
[ https://fortune.com/article/jerome-powell-insists-fed-independence-is-law-supreme-court-might-change-that/ ]