BNY CEO Says Shaking Fed’s Foundation Hurts Push for Lower Rates

Bank of New York Mellon Corp. Chief Executive Officer Robin Vince said the recent attacks on the Federal Reserve’s independence aren’t helpful for keeping interest rates low.

“Shaking at the foundation of the independence of monetary policy, that’s not really in the interests of keeping long-term rates low,” Vince said Wednesday in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland.