Powell Stands Firm on Fed's Independence

In a recent press briefing, Federal Reserve Chair Jerome Powell made it clear that he has not been in contact with President Donald Trump regarding interest rates. Powell emphasized the importance of the Fed's independence, stating, "I've had no contact," and further adding that it's inappropriate for him to comment on the President's statements. He reassured the public that the Fed remains committed to its goals and will continue its work without political interference.

Trump's Call for Lower Rates

This statement comes in the wake of President Trump's demand for lower interest rates both in the United States and globally during his speech at Davos last week. Trump's call for rates to drop "immediately" has sparked discussions on the influence of political figures on monetary policy decisions.