[audleman]

Isn't the Fed taking directions from whatever administration is in power? Or do they have their own independent agenda?

I think it's more the former, leading to a circular argument on where the blame for that 60% lies.

[colinmhayes]

> Isn't the Fed taking directions from whatever administration is in power?

No, the Fed is an independent entity similar to the supreme court. The president could fire the chair and install someone new, but I don't believe that has ever been done.