Fed's Hammack says central bank independence key

- Federal Reserve Bank of Cleveland President Beth Hammack reiterated on Thursday that a wide range of evidence supports the idea that an independent central bank makes policy more effectively.

“Independence is important in achieving our dual mandate goals of maximum employment and price stability,” Hammack said while opening a conference at her bank, adding it allows officials “to make decisions based on incoming data and the evolving outlook, including our understanding of how businesses and communities are experiencing the economy.”