In recent weeks, President Donald Trump's disputes with Federal Reserve Bank chair Jerome Powell has raised concerns about the central bank's independence.
Jeffrey Schmid, president of the Federal Reserve Bank of Kansas City, says that the independence of the Federal Reserve System from partisan influence is "intuitive" to the health of the U.S. economy.
"When you're thinking about an economy as large as this, I think you do need some balancing and counterbalancing. And then I think you need an entity that is focused on these very important rails (of the economy), which are full employment and stable price," he told KCUR's Up To Date.
The Federal Reserve Bank of Kansas City is one of 12 in the system that makes up the United States' central bank. It covers a seven-state region that includes western Missouri, Kansas, Oklahoma, Colorado, Wyoming, Nebraska and northern New Mexico.
- Jeffrey Schmid, president, Federal Reserve Bank of Kansas City
