The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege.

The President’s campaign to bend the independent central bank to his will is straight out of the playbook of populist strongmen and will likely go on for years.

“It’s by now widely agreed, almost all over the world: If you leave monetary policy in political hands, you’ll get too much inflation,” Alan Blinder, a professor of economics at Princeton University and former vice chairman of the Federal Reserve, told ABC News.