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Fed chair Jerome Powell denies Trump influenced interest rate decisions – Axios



In an interview with CBS & # 39; 60 minutes, Federal Reserve Mayor Jerome Powell said President Trump's criticism of the central bank and interest rates did not play a role in Fed's recent decisions to stop raising interest rates further. 19659002] The Big Picture: The Fed's seemingly sudden shift to pause further interest rate hikes occurred after Trump's unprecedented number of negative comments on Powell and the Fed Migration Rate under his leadership. There was concern that Trump had influenced the central bank.

Exchange:

Scott Pelley: You raised interest rates at the end of last year and only in early 201

9. The President said it. And you stopped raising interest rates. Was it because of pressure from the White House and the President?

Powell: Not at all. Not at all. And it is very important that the public understands that we should always make decisions based on what we believe is right for the American people …. We will never take political considerations. This is a strong institution that has a strong culture that I have described.

Other Highlights: Powell also said that the president does not have the legal authority to burn him, something lawyers and math watchers have discussed . He also said that he "fully intends" to serve his four-year period.

  • Powell also voiced his concern over the US government debt and said he felt he "had a duty to speak up" when something "threatens the overall economy."

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