According to him, the Federal Reserve will continue to operate without regard to political considerations and criticism from elected officials.
“The independence of the Fed from direct political control has served the public good for a long time. I assure you that my colleagues and I will continue to pursue monetary policy without regard to political considerations, ”TASS quoted him as saying.
He noted that the policy of the regulator will be determined only on the basis of facts, evidence and objective analysis.
Earlier, the Fed decided to lower the base rate to 1.75–2% from 2–2.25%.
Soon after, Trump accused Powell of lack of courage and foresight.