00:00Is that we will make our decisions based only on our best economic analysis of what would most benefit the
00:06people we serve.
00:08We do not take into account the fortunes of any political party or politician in making those decisions.
00:24Like so many other institutions, the Fed has been undergoing a stress test.
00:30CONGRESS WISELY CHOSE TO INSULATE MONETARY POLICY DECISIONS FROM POLITICAL PRESSURE.
00:37ALL OTHER ADVANCED ECONOMY NATIONS HAVE DONE THE SAME.
00:40OUR FEDERATED STRUCTURE IS A BIT COMPLEX, WITH RESERVE BANKS AND THE BOARD AND ALL THAT,
00:46BUT THE LEGAL PROTECTIONS THAT SUPPORT THE NONPOLITICAL CONDUCT OF MONETARY POLICY ARE STRAIGHT FORWARD.
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