Fed's Dudley - Really important to insulate Fed policy from politics

New York Fed’s William Dudley has stressed the need to insulate Fed policy from politics at a time when Fed’s independence is being questioned by the likes of Trump.

Fed has come under fire for delaying the rate hike till conclusion of elections withmany question whether the Fed is politicized.

Dudley also saud the central bank needs to communicate clearly to financial markets and that Yellen’s comments on interest rates and monetary policy in general reflect the consensus of the Fed.