Concord Action Statement in Response to Encroachments on Federal Reserve Independence

WASHINGTON, DC, August 21, 2025 – Concord Action Executive Director Carolyn Bourdeaux released the following statement on the importance of an independent Federal Reserve:

“The attacks on Federal Reserve Chair Powell and now on Federal Reserve Governor Lisa Cook, reflect a troubling encroachment on the independence of the Federal Reserve. An independent Federal Reserve is one of the key pillars of U.S. economic stability, and economists have long warned of the dangers losing that independence would pose. In fact, S&P recently warned that erosions to Federal Reserve independence could jeopardize the dollar’s status as the world’s leading reserve currency. Policy disagreements are inevitable in a democracy, but to ensure continued economic stability, the independent role of the Federal Reserve in our government must not be threatened.”