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7/12, 8:28 PM (Source: TeleTrader.com)
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Powell: Fed is not influenced by White House

United States Federal Reserve Chair Jerome Powell told Marketplace on Thursday that the central bank's decisions are not influenced by the Trump administration.

"We have a long tradition here of conducting policy in a particular way, and that way is independent of all political concerns," Powell said in response to a question whether it is appropriate for the White House to tell Fed what to do.

Interviewer Kai Ryssdal noted that US President Donald Trump's top economic adviser Larry Kudlow asked the Fed to move slowly on interest rates as raising them "tricky thing for the president politically." However, Powell insisted that nobody from the Trump administration ever told him anything that would cause concern over the bank's independence.

Breaking the News / NP