Inflation could ‘roar back’ if Fed independence compromised

Chicago Federal reserve Chairman Austan Goolsbee says the removal of Fed independence would see inflation “roaring back” and the IMF managing director Kristalina Georgieva has pledged her support behind Jerome Powell who is under criminal investigation. However, U.S. Commerce Secretary Howard Lutnick tells CNBC that the Fed has ‘plenty of room’ to prompt further interest rate cuts.