Fed’s Barkin says central bank independence means better economic outcomes 

RICHMOND Federal Reserve President Tom Barkin on Tuesday declined to comment on “stuff that’s been in the news,” a reference to the Trump administration’s threat of indictment against Fed Chair Jerome Powell that the Fed chief has called out as intimidation aimed at pressuring the Fed to lower rates.

But, he said in remarks that countries that “have independent central banks have better economic outcomes.”

In the US, he said, inflation is higher than target but does not seem to be accelerating, and unemployment has ticked up but was not ticking out of control. REUTERS