In a response to Fortune, Federal Reserve Bank of St. Louis President Alberto Musalem defended the Fed's autonomy, citing global evidence that independent central banks deliver stronger inflation and employment outcomes.

Kimberly A. Cheatle, who resigned after Donald J. Trump was grazed by a bullet as a candidate a year ago, pushed back against findings in a Senate report released on Sunday.

The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.