Fed Vice Chair for Supervision Michelle Bowman reaffirmed the central bank’s commitment to policy independence during an interview with CNBC, stating that “it’s very important… that we maintain our independence with respect to monetary policy.”
Meanwhile, she stressed that this autonomy must be matched by a commitment to openness. “We have an obligation for transparency and accountability as well,” she noted.
Bowman also stressed the importance of listening to a wide range of voices in forming monetary policy. Since joining the Board in 2018, she said the Fed has consistently engaged with diverse viewpoints to better understand how different segments of the economy are affected.
“That should influence our decisions in monetary policymaking,” she said.
