MNI BRIEF: Bowman: Independent Fed Monetary Policy Important

U.S. monetary policy needs to stay independent and the U.S. capital framework needs a holistic review, Federal Reserve Governor and Vice Chair of Regulation Michelle Bowman, said Tuesday.  

"It's very important, and I've said this a number of times in the past, that we maintain our independence with respect to monetary policy, I think that's very clear," she said in an CNBC interview. As part of that independence, the Fed is obliged "to listen to a broad range of voices and to understand how others are viewing the economy and how that should influence our decisions in monetary policymaking," she added. 

Bowman has proposed a broad set of regulatory reforms for big banks and community lenders since the Senate confirmed her appointment by President Trump to be regulatory chief last month. (See: MNI INTERVIEW: FOMC To Go Own Way If Chair Lacks Credibility)