In response to the Federal Reserve’s decision to raise the target range for the federal funds rate, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:

“While I am concerned that this decision may slow the progress that continues to be needed for many vulnerable Americans, this is an important time to reaffirm that judgments on monetary policy must be left to an independent Federal Reserve. Republicans have consistently worked to curtail the Fed’s toolkit, mandate and discretion, and recently rushed a measure to the House Floor that would compromise the long-established independence of its monetary policy decisions. Efforts such as these would ultimately be harmful for hardworking American families. An independent Fed, focused on the dual objectives of full employment and price stability, is key to promoting a stronger and healthier economy over the long run.

“The Trump Administration’s complete disregard for data, readiness to disparage facts it finds inconvenient as “fake news,” and the President’s propensity for inflammatory and sometimes market-moving statements, demonstrate clearly why politicians in the White House and Congress should not be allowed to meddle with interest rate decisions.”

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