Should central bank independence be protected from political pressure?

Context

Central bank independence refers to the degree to which monetary authorities like the Federal Reserve operate free from political interference in setting interest rates and managing inflation. This autonomy is considered crucial because political pressure to keep rates low or spend freely can fuel inflation and undermine long-term economic stability, yet it remains contested—some argue elected officials should have more say over institutions affecting millions of lives. The debate has intensified recently as political leaders worldwide have questioned whether central banks should be insulated from democratic accountability.