CNN’s Romans: Trump’s Wrong that Fed Is Political

"Donald Trump says the Federal Reserve is political. His argument: The Fed is keeping interest rates low to help the economy look good under President Obama and Hillary Clinton by extension. Now, the problem with Trump's assertion is it was specifically designed back in 1913 to be independent from the three branches of government.  Neither Congress nor the President can tell the Fed to raise, lower or hold interest rates steady. Only the 12 people on the Fed's monetary committee make that decision. Seven of those members, the Fed's governors, are appointed to 14 year terms to insulate them from the whims of elected officials; the other five rotate."