Lagarde emphasized the importance of central bank independence.

European Central Bank President Lagarde warned against questioning the independence of policy makers and their institutions. She believes that if governments intervene in interest rate setting, the economy may be at risk of dysfunction. Lagarde said on Fox News program: "Independence of any central bank is crucial. We must be accountable, must report, and answer to all questions from the US Congress or the European Parliament. But maintaining the independence of central banks is crucial." She added that during her time as Managing Director of the International Monetary Fund, she witnessed the consequences when central bank independence was threatened. Lagarde said: "The economy becomes dysfunctional, starts doing things it shouldn't do. Next comes chaos, and it could even lead to instability, or worse. Therefore, I believe this issue should not be controversial."