Asks if the investigation into the Fed threatens its independence or the idea of Jay Powell facing trial.
Frank
Roger Ferguson
States the probe is perceived as an effort to influence interest rate policy and is a flare-up signaling Fed independence is being threatened.
Asks about the dynamic if a former Fed Chair stays on the FOMC board and how they are perceived.
Frank
Roger Ferguson
Says it would be unprecedented and would signal concern about Fed independence, requiring the committee to be vigilant to make decisions based purely on economics.
Asks about the public speculation regarding the next Fed Chair and if this horse race is unusual.
Frank
Roger Ferguson
Highlights two unusual aspects: the White House talking about interviews, and the nominee facing serious questions about independence from the President.
Asks about the statement of support from international central bankers for Jay Powell.
Frank
Roger Ferguson
Says it reflects a deep global understanding that independent central banks are crucial for stability, and the timing shows the world is watching the US closely.
Asks how the Fed will view the upcoming CPI report and its importance given other strong economic data.
Frank
Roger Ferguson
States all incoming data must be read against the backdrop of a Fed that was closely divided in its last decision, making each data point take on outsized relevance.