Clarida Says Fed's Independence Is Not at Risk

The transcript discusses the institution's mandate of maximum employment and price stability, emphasizing its independence and accountability. It pays tribute to Martin Feldstein, highlighting his influence on economic policy. The speaker clarifies the distinction between fiscal and monetary policy, stressing that central banks have a narrow focus. The transcript concludes by addressing rumors of demotion, affirming the institution's commitment to its clear mandate and collaborative decision-making process.

What challenges does the speaker mention regarding public perception of central banks?

What resources does the speaker mention that support their mandate?