Fed independence is important to the U.S. ‘and we should preserve it’ – BofA, Goldman Sachs

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The Federal Reserve ( FED ) to control interest rates. Wooden blocks FED on coins with USA flag background. American economy and business. Federal Reserve Bank Interest rates rise policy. FED concept.

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Bank of America (NYSE:BAC) CEO Brian Moynihan emphasized the critical importance of Federal Reserve independence amid growing concerns about political interference in monetary policy.

In a recent interview with CNBC, Moynihan stated that “a stable Fed and independent Fed is key” to economic

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