Waters said, “We must understand that the Fed does not work for the president of the United States. The Fed creates monetary policy based on what’s good for the economy and, of course, I may disagree from time to time with their decisions but we must not interfere. They must be independent. Right now Powell is saying that they’re dealing with inflation, but they don’t work for the president. The president can’t fire them. All that the president can do when he opens his mouth is rattle the markets. As a matter of fact, the volatility that you see in the markets is caused by the kinds of statements that this president will make causing more uncertainty.”
