Senate Majority Leader John Thune on Monday said the Federal Reserve should remain politically independent but called for oversight of the central bank’s expensive headquarter renovations.
In comments to reporters, Thune said he didn’t know whether Fed Chair Jerome Powell could be fired over his management of the building upgrades, where costs have ballooned to $2.5 billion, but said when it comes to interest rates, the Fed is historically shielded from politics.
“That agency is supposed to be independent and operate sort of outside the whims of the political process,” he said. “So that seems to be kind of where — not notwithstanding the…
Read the full article at POLITICO.COM
