No Contact with Trump on Rates, Says Powell

In a recent press briefing, Federal Reserve Chair Jerome Powell made it clear that he has had no discussions with President Donald Trump regarding interest rates. Powell emphasized the independence of the Federal Reserve and its commitment to focusing on its goals without political interference.

Commitment to Independence

Powell stated, "I've had no contact," in response to inquiries about potential discussions with Trump. He further added, "It's not appropriate for me to comment on what the President said. Our focus remains on using our tools to achieve our objectives, keeping our heads down, and doing our work. This is how we best serve the public."

Trump's Call for Lower Rates

This statement comes after President Trump, during his speech in Davos last week, called for an immediate reduction in interest rates both in the United States and globally. Powell's remarks underline the Federal Reserve's dedication to maintaining its independence and focusing on its mandate, despite external pressures.