'An independent Federal Reserve led by governors who are committed to pursuing its dual mandate of price stability and full employment, as well as effective regulation — and who make decisions based on facts and analysis — is critically important to our economy, the well-being of the people and the market credibility of Fed policy making. That independence is about to be severely tested. he board consists of, immensely capable professionals who work with absolute intellectual integrity. That’s why the Fed’s work is highly and widely respected in the United States and around the world. This credibility keeps market interest rates lower and liquidity greater. That, too, could change. The administration’s relationship to the Fed, and its appointment of governors, must be based not on politics but on the same question every president ought to ask: Who and what will best serve our country?'