Trump v. Cook · ¶83

Economic experts of all stripes agree that “[t]he Federal Reserve’s independence is critical to fostering the long-term health and stability of the national economy.” Brief for Former Treasury Secretaries et al. as Amici Curiae 6. That is because “effective monetary policy requires a commitment” to the often politically unpopular “long-term goals of price stability and steady growth.” Id., at 10, 14. But those longterm goals are not served if the officials responsible for the Nation’s monetary policy are subject to the whims of politicians—many of whom “have an incentive to respond to their constituents’ immediate interests by prioritizing short-term economic growth.” Id., at 11.

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