Protect the Fed’s Independence

I’m writing to urge you to defend the independence of the Federal Reserve. President Trump has publicly suggested he may remove Federal Reserve Chair Jerome Powell over policy disagreements. This would be a serious threat to the health of our economy and the rule of law. Why the Fed Must Remain Independent The Federal Reserve’s credibility depends on its freedom to make monetary policy decisions based on data, not politics. This independence has allowed it to manage inflation, support jobs, and stabilize financial markets during times of crisis. Undermining that autonomy would damage trust in our economic system. Legal Protections Matter The Supreme Court’s decision in Humphrey’s Executor v. United States affirms that leaders of independent agencies like the Fed can only be removed for cause. Removing Chair Powell for political reasons would likely violate this legal precedent and could destabilize all independent federal agencies. Economic Fallout Is Real Even suggesting political interference in the Fed’s work can rattle markets. Actual interference could drive up inflation, raise interest rates, shake investor confidence, and harm retirement savings, small businesses, and homebuyers. Congress Must Act Now I urge you to take a public stand opposing any attempt to remove Chair Powell without legitimate cause. Please commit to preserving the Federal Reserve’s independence. Our economic stability depends on institutions that make decisions free from partisan influence. Thank you.

First sent on April 18, 2025 by Bill