The now-living former Federal Reserve chairman signed an opinion urging the Supreme Court to protect the Fed's independence.

Leading U.S. economic policymakers from the past 35 years, including all living former Federal Reserve chairmen, are urging the Supreme Court to allow Federal Reserve Governor Tim Cook to continue in office. The amicus brief warned that allowing Cook's removal while her legal challenge is ongoing would mark a devastating erosion of the safeguards Congress established 90 years ago to protect the independence of the executive branch. The signatories of the brief cited research showing that central banks can reduce inflation and lower long-term interest rates by ignoring short-term political considerations when setting interest rates. The brief was signed by former Federal Reserve Chairs Alan Greenspan, Ben Bernanke, and Janet Yellen. The 18 signatories also include presidential advisers from Republican and Democratic administrations, as well as leading economists from across the ideological spectrum: former Treasury Secretaries Robert Rubin and Lawrence Summers, former Council of Economic Advisers Chairs Glenn Hubbard and Greg Mankiw, among others. (Jin Shi)