Fed nominee Waller pledges to uphold the independence of monetary policy

According to Jin Shi reports, the U.S. Congress will hold a confirmation hearing for Federal Reserve Chair nominee Waller on Tuesday local time. Waller has pledged to maintain strict independence on interest rate issues. He stated that interest rate decisions must be independent of political considerations, monetary policy should not be a tool for short-term political goals, and emphasized that the credibility of the Federal Reserve comes from institutional constraints and policy discipline. Waller also warned against extending the central bank's functions into areas of fiscal policy or social policy where it lacks statutory authority.