Four former Federal Reserve Chairmen in the United States jointly called for

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      Four former Fed chairmen issued a rare joint statement Monday calling for the Fed to remain independent and free from fear of political retaliation.
U.S. President Trump has repeatedly complained about the Fed's four interest rate hikes last year, saying that Federal Reserve Chairman Powell's monetary policy hinders economic growth. Trump has said publicly that he can fire Powell or demote him.
The president's overt pressure on the Federal Reserve is unprecedented, because the Federal Reserve has traditionally been considered independent.
"As the former chairman of the Federal Reserve Council, we share the conviction that the Federal Reserve and its chairman must be allowed to operate independently in the best interests of the economy and free from short-term political pressure; in particular, from the threat of dismissal or demotion for political reasons," said four former Federal Reserve chairmen, Walker, Greenspan and Berger. Nanke, Yellen - Writing in the Wall Street Journal.
"It is essential that the Fed retain the ability to make decisions based on the best national interests, rather than seeking the interests of small political groups," the article wrote.


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