The Federal Reserve's biggest success during the coronavirus crisis: keeping itself out of politics

The Federal Reserve has never been free of political pressure, but it has changed how it deals with it. Due to the novel coronavirus, the Fed has been working more closely with the government. But the Fed's independence is paramount because it gives us apolitical policy making. Simon W. Bowmaker is Clinical Professor of Economics at the NYU Stern School of Business. Paul Wachtel is a Professor of Economics at the NYU Stern School of Business. This is an opinion column. The thoughts expressed are...