By contrast, present-day conditions “lend themselves to a much closer interaction, much better co-ordination in the messages, between the federal government and the Banco de Mexico”. Mr Carstens said closer co-operation with the government would involve “having more of a discussion and a joint understanding [about] what is going on in the economy. Such discussions would lead to “much better information to take monetary policy decisions”.

“There is no reason to worry; the only thing that both the president and the Banco de Mexico under my leadership are trying to do is to exploit those synergies that are possible,” he said.

Underlining that he would be prepared to take decisions that were not “fully in line with what the federal government expects or wants”, Mr Carstens said one of the legally established roles of the bank was to advise the federal government on economic and financial matters. “President Calderón, when he invited me to become governor, he told me that he expects me to provide that service.”

if America can do this  , why cant Mexico do this? the fed works closely with the president in America.