Bank of England's Bailey says US Fed situation 'very serious'

LONDON, Sept 3 (Reuters) - Any threats to the U.S. Federal Reserve's independence would be a "very serious" issue, Bank of England Governor Andrew Bailey said on Wednesday.

"This is a very serious situation, I am very concerned," he told a hearing of the House of Commons' Treasury Committee. "The Federal Reserve ... has built up a very strong reputation for independence and for its decision making."

Bailey said trading central bank independence against other government decisions would be a "very dangerous road to go down".