All living former Federal Reserve Chairs sign amicus brief urging Supreme Court to protect the Fed's independence

Jinse Finance reported that the main economic policymakers in the United States over the past 35 years, including all living former Federal Reserve Chairs, have urged the Supreme Court to allow Federal Reserve Governor Cook to continue serving. An amicus brief warned that allowing her to be dismissed while her legal challenge is ongoing would mark a destructive erosion of the safeguards Congress established 90 years ago to ensure the independence of the executive branch. The signatories of the brief cited research showing that central banks can reduce inflation and lower long-term interest rates when setting interest rates without considering short-term political factors. The brief was signed by former Federal Reserve Chairs Greenspan, Bernanke, and Yellen. The 18 signatories also include presidential advisors from both Republican and Democratic administrations, as well as leading economists from different ideological backgrounds: former Treasury Secretaries Robert Rubin and Lawrence Summers, and former Council of Economic Advisers Chairs Glenn Hubbard and Greg Mankiw, among others.