The Federal Reserve should be “independent,” but it cannot exist in a vacuum either, because American voters, the president, Congress, and economic data should all play a role in monetary policy, not just Fed Chair Jerome Powell, according to Sen. James Lankford, R-Okla.

“I think the Federal Reserve should set that,” Lankford told NBC’s “Meet the Press” on Sunday of interest rate decisions, “but obviously the president, the president’s policy, and quite frankly, members of Congress, we are very involved in this.”

Lankford pointed back to the tax policies in the One Big Beautiful Bill Act in demonstrating how the checks and balances of the Constitution work.

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