Powell Stresses Fed’s Independence in Rate Decisions

Chair Jerome Powell said Wednesday that the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or political outcome.

Speaking at the New York Times’ DealBook summit, Powell addressed a question about President-elect Donald Trump’s numerous public criticisms of the Fed and of Powell himself. During the election campaign, Trump had insisted that as president, he should have a “say” in the Fed’s interest rate policies.

Read more at AP News.