New York - A government official, whose private company owes banks and investors over 2.5 billion dollars through 500 private partnerships, broke long standing protocol and criticized the Federal Reserve Board for raising interest rates, rattling business news commentators across the country.
The Federal Reserve Board has long been considered independent from pressure which might be applied to it by politicians and government officials in order to influence it's decision making process, but instead it establishes and pursues appropriate monetary policies necessary to meet targets in economic growth and inflation.
Observers wondered aloud why the government official (pictured alongside Federal Reserve Chairman Jerome Powell) might want to interfere with the work of the Fed. "It doesn't make any sense, interest rates are still below the inflation rate, there appears to be no reason why this particular office holder would question the current Federal Reserve Board's policy of normalizing interest rates, the economy is booming", declared one observer at CNBC.
