Lacker's surprising comments on political pressure at the Fed.

President of the Federal Reserve of Richmond Jeffrey Lacker hs departed from the 'no political pressure' at the Fed mantra

He says the Fed Board of Governors in Washington has become less insulated from partisan influence:

• Governors are appointed to staggered 14-year terms, a length intended to make them independent from the political election cycle, but in practice their tenure is typically less than half that
• "So in practice the view of governors may not be as diverse as intended," he said. "By the end of a president's term in the White House, it has typically been the case that the majority or every member of the Board of Governors was appointed by a president of the same party."

Bloomberg have more here on this hot topic.