Not Yours to Command
The Fed must hold its ground, not serve the campaign trail
June 18, 2025 | Washington, D.C.
As the Federal Reserve prepares to announce its rate decision, the political pressure is rising. Once again, the White House is signaling, some subtly, some not, that interest rates should fall. With an election looming and economic signals mixed, the calls for a “patriotic rate cut” have grown louder. But the Fed’s mission remains clear: price stability, full employment, and above all, independence.
Today’s poster stands as a reminder: the central bank was never meant to serve short-term political agendas. It is not an arm of any administration, red or blue. It is a shield for the public interest. That shield must hold.
“A nation turns its lonely eyes to the Federal Reserve, because no one else is prepared to say no.”
—Paul Volcker, former Chair of the Federal Reserve
This isn’t the first time elected leaders have tried to sway monetary policy. History is filled with moments when the Fed had to resist. In the 1970s and early 1980s, Volcker stood firm against both inflation and pressure from the White House, choosing the harder path to protect the long-term health of the economy.
We face a different crisis now, but the principle remains.
Let the Fed do its job.
Let it be a fortress against crisis, not a puppet in the theater of election cycles.
Question for readers:
Do you believe the Federal Reserve should remain independent of political influence? Why or why not?
Join the conversation below.
Read background coverage:
The Fed is set to make its next rate decision today – CBS News
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