How is political independence embedded in role of fed chair

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During the 2012 presidential election campaign, Texas Governor Rick Perry criticized the actions of the Fed Chair Ben Bernanke. He Argued that, "Printing more money to play politics at the particular time in American history is almost treasonous in my opinion." An article in the Wall Street Journal commented that despite Perry's remarks, "Bernanke is willing to embrace the political independence embedded in his role to to what Fed officials think the economy needs." How is political independence embedded in the role of Fed chair? Why did Congress decide to make the Fed independent of the rest of the Federal government?

Reference no: EM131112939

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