Inflationgate: More evidence of why central bank independence is important (The Economist)

How US president Richard Nixon in the late 1960s and 70s pressured his central bank governor into an expansionary monetary policy to get low unemployment for an election year. He also got uncontrollable inflation:

"....Unemployment fell in the election year as Nixon had wanted, but inflation was uncorked. In the year after Nixon's landslide victory, consumer prices rose by almost 10%. The Fed engineered a post-election recession in November 1973, but inflation was not brought under full control again until Paul Volcker took charge...."