Fed's Fischer: proposals to limit Fed independence 'dangerous'

Congressional influence on U.S. monetary policy could wreck the Federal Reserve's ability to control inflation and be a "dangerous" departure from the broadly accepted norm of central bank independence, Fed Vice Chairman Stanley Fischer said on Wednesday. Inflation has been anchored at low levels for more than two decades "due in great part, I suspect, to the continued credibility of the Fed’s independence from political interference," Fischer told a meeting of the National Economists Club