Fed needs to be independent to help US society become fairer - Trump`s Adviser

  17 January 2017    Read: 1511
Fed needs to be independent to help US society become fairer - Trump`s Adviser
The US Federal Reserve System needs to be independent in order to help the US society become fairer and to reduce the gap between the classes, Anthony Scaramucci, US President-elect Donald Trump`s adviser on reaching to business communities and a member of his Transition Team, said Tuesday.
The Federal Reserve is the central banking system of the United States whose purpose is to maintain maximum employment and stabilize prices. The Federal Reserve meets regularly to establish interest rates, the main tool used to influence monetary and credit conditions.

"The government should try to do the world slightly more fair…. Trump`s administration is [going to be] reaching out to lower class families, working class families to restate the agenda for `American dream.` In order to do that, the Fed [Federal Reserve System] has to be independent, and we have to be careful about rising currency, not only because of what is going on internationally, but because it will have an impact internally in the United States as well," Scaramucci said at a session of the World Economic Forum in Davos.

The Federal Reserve System is now largely Obama-appointed and is dominated by the Democrats, which raises questions how it is going to work with the Republican Congress and the Republican president.

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