Fed's Goolsbee says inflation could come 'roaring back' if central bank independence goes away

Goolsbee's statement underscores a crucial aspect of economic governance: the need for central banks to operate free from political pressures. Historical precedents show that when central banks lose their independence, it often leads to reckless monetary policies that can exacerbate inflation. The current economic climate necessitates vigilance to ensure that the Fed remains insulated from external influences, as this is vital for long-term economic stability.