Fitch Ratings said on Monday that it views the Federal Reserve’s independence as a key supporting factor for its AA+ US sovereign rating, as Reuters reported. The credit rating agency said it will continue to monitor the evolution of governance, including “institutional checks and balances,” as well as the Fed’s performance in delivering low and stable inflation, in its assessment of the US sovereign rating, according to emailed comments from Richard Francis, senior director at Fitch Ratings. The comments come after the Trump administration threatened to indict Federal Reserve Chair Jerome Powell over congressional testimony he gave last summer about a Fed building project, an action Powell called a “pretext” to gain more influence over the central bank and monetary policy. Credit rating agency S&P Global Ratings has also cited the credibility of the Fed as a key strength for the US sovereign rating.