Political pressure on the Fed through judicial investigations is very troubling and threatens economic underpinnings. Central bank independence is crucial to avoid inflation outcomes seen in countries like Turkey where political pressure influences interest rates.

Fed building cost details are normally in submissions not testimony, and the investigation lacks basis. Ironically contrasts with White House demolition without replacement plan.

Fed decisions should continue to be based on data, which makes calls very close right now between competing job growth/unemployment and inflation considerations. Fed has been moving cautiously, which is correct, though slower than administration would like.