The current president of the Federal Reserve Bank of St Louis and two former presidents said Monday it is crucial for the country's central banking system to remain independent to best serve the country.

The country's central banking system has been in the news as President Donald Trump has publicly pressured Federal Reserve leadership over interest rates. During Monday’s panel, speakers discussed the system’s transparency, misconceptions about the bank and future challenges.

Recently, Trump has targeted the Federal Reserve, pushing leaders for more aggressive interest rate cuts. Trump fired Federal Reserve Governor Lisa Cook last month for allegedly committing mortgage fraud in 2021. Cook swiftly sued Trump over her removal. And on Saturday Trump posted a cartoon of himself firing c

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