Jay Powell defends Federal Reserve’s authority over US monetary policy

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Jay Powell has defended the Federal Reserve on US Monetary Policy, as he promised to “focus on data” and to avoid the costs of whites and some legislators.

Is Nurture He faces his independence to define interest rates from the 1980s, during which Donald Trump claims to return to the White House in his first week, which he understands better than the Central Bank. Trump also said that borrowing costs should be lower.

Fed chair Luxurious On Tuesday, the Senate Banking Committee’s legislators said that the Central Bank was a better chance of keeping prices under control, if it remained a dispute, and it remained in order to keep it from political interventions.

“We will make a better policy if we just focus on doing our job and stay out of politics, remain a political supporter and just try to focus on the data.” in the form because Trump returned to the presidency. “If we start putting political filters, we will be less effective in our already difficult task.”

Powell was united that any decision to win the Fed Governors’ Council of Governors “not clearly not allowed by law.”

The views are coming, as some Democrats fear that Fed is already responding to republican pressure.

Hearing Democratic Senators quoted Fed programs to review the rules of the so-called stressful tests to leave the country’s largest controller Michael Bar for the network as evidence of the financial system that was exposed to republican attacks :

However, Powell became clear on Tuesday that when it reached monetary policy, feeding would not respond to the pressure of the new administration and legislators on both sides of the corridor.

Feed the Chair repeated that strong growth means that the exchange rates are “not in a hurry”, reducing the loan costs than 4.25% and 4.5 percent.

The investigation is dominated by the democracy administration, and Republicans claim that many entitled Americans have refused to refuse the actions of the president’s economic consequences.

“It really remains to see which tariff policy will be implemented. Would be inappropriate to manipulate when we really don’t know. We see suggestions, but it is very difficult to say what will happen, “said Powell. “It’s not really not just tariffs. It is a tariffs, immigration, fiscal policy and regulatory policy. We will try to make sense of it and do what is right for monetary policy. ”

However, Powell promised to inform the committee that the Committee should be informed or other members of the government’s efficiency (DOGE), try to access Fed payment data or other measures that threaten the launch of the Central Bank. Independence.

Musk has so far concentrated its efforts to access the US Treasury Fees and not Fed.