Seems Greenspan was pretty good at bending to political influence.

That’s true, but he was a fool. His laissez-faire attitude nearly destroyed the world economy, and his Ayn Randism was responsible for several years worth of nonsense.

Arthur Burns also gave in to political pressure when Nixon cajoled him into lower rates prior to election, but the inflation soon got out of control and it took Carter to appoint Volker, who put the stiff medicine into the patient - and cost Carter the election.

Two cases don’t make a trend, necessarily, but both the violators were Republican, and both of the Presidents who left the Fed alone to fix it were Democrats. And we have a Republican (in name, anyway) in office again. In this case the trend is not your friend, methinks. Calling Murphy! Don’t you have a law that covers this or something?

Macroeconomic Trends and Risks FAQ

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