[Federal Reserve's Goolsbee: Government financing costs should not be considered when setting policy] According to a report by Golden Finance, Federal Reserve's Goolsbee stated on Friday that the central bank should not take government financing costs into account when formulating interest rate policies, emphasizing that this is a key reason for the Fed's critical independence. 'It pains me that people would boldly say... Why should a group of people outside the government, outside the executive branch, be the ones to decide interest rates? They should remain independent,' Goolsbee said at the Chicago Fed's economic seminar. 'Some have even suggested that the Fed should cut interest rates to reduce government borrowing costs. This is essentially monetizing debt. This is precisely why we want the Fed to maintain its independence.' U.S. President Trump has previously stated that the Fed should cut interest rates to lower government borrowing costs.