Given that policy decisions made by the Fed have such a great impact on the economy is it unwise to have an independent Fed?

answer each question separately in a paragraph. No need to use resources. You can write it in first person. 1) The Fed is considered independent from the federal government, because their monetary policy decisions do not need to be approved by the federal government, and Fed officials are not voted into their positions through general elections. Given that policy decisions made by the Fed have such a great impact on the economy is it unwise to have an independent Fed? Should the public be able to vote out Fed officials they do not like? Should Congress be able to influence monetary policy decisions? Or is Fed independence important to protect the central bank from political influence and preserve it’s integrity? 2) Watch the following video: https://www.ted.com/talks/shlomo_benartzi_saving_for_tomorrow_tomorrow?subtitle=en(In this video, Prof. Benartzi uses the example of the monkey having an apple taken away to illustrate the principle of “loss aversion” – losing something that we have is painful. He argues that people mentally frame saving as a loss (compared to spending now) – so saving is painful.The idea of loss aversion is a basic concept of behavioral finance; for example, it explains why people tend to hold onto losing stocks instead of selling them (as long as they continue holding them, they avoid a realized loss, they can pretend that the stock price will recover).Bernartzi’s work suggests that automatic payroll deduction helps people overcome the pain of loss aversion with respect to saving for retirement.) *Question:* Looking to your own future savings for retirement, do you agree that you are more likely to save $200 every month with an automatic payroll deduction from your paycheck (versus you manually transferring $200 every month from your checking account into an investment account)? Or do you think that you would save the same amount even without an automatic payroll deduction (you just have to check a few boxes in your online banking accounts)? Support your answer with a brief explanation of your reasoning

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