Carlyle’s Schwartz Calls US Fed Autonomy ‘Incredibly Important’

Carlyle Group Inc. Chief Executive Officer Harvey Schwartz said that an investigation into Federal Reserve Chair Jerome Powell underscores the importance of the US central bank’s independence.

Past crises and economic history have demonstrated that “central bank independence is incredibly important,” Schwartz said in an interview Wednesday at the Economic Club of New York.

WATCH: Carlyle Group CEO Harvey Schwartz says that an investigation into Federal Reserve Chair Jerome Powell underscores the importance of the US central bank’s independence during an Economic Club of New York event.

Source: Bloomberg

The 61-year-old CEO also praised Powell’s response to broadsides from the White House.

“Jay did a very good job of not engaging in a dialogue with the administration, regardless of the criticism he was taking,” Schwartz said.

Powell on Sunday said the US central bank ...