Fed's Williams says weakening central bank independence has bad outcomes

NEW YORK, Jan 12 (Reuters) - Federal Reserve Bank of New York President John Williams said on Monday that while he cannot speak to any legal investigations into the central bank and its officials, he warned compromising central bank independence leads to nothing good.

Attacking central bank independence “often leads to very unfortunate economic outcomes” that can include high inflation, Williams said while speaking at an event held at the Council on Foreign Relations in New York.

Williams also said Chair Jerome Powell has “proven himself to be a man of impeccable integrity” who had led the Fed through challenging times.