Powell says Trump’s calls for rate cuts have no influence on Fed decisions

Federal Reserve Chair Jerome Powell

Federal Reserve Chair Jerome Powell said US President Donald Trump’s calls for interest rate cuts have no impact on the Federal Open Market Committee (FOMC) or the way it operates.

 

“We're always going to do the same thing, which is we're going to use our tools to foster maximum employment and price stability for the benefit of the American people,” Powell said at a conference.

 

“We're always going to consider only the economic data, the outlook, the balance of risks. And that's it. That's all we're going to consider,” he added.

 

Powell also noted that he has never requested — and will not request — a meeting with any president. “There's never a reason for me to ask for a meeting. It's always been the other way, he said.

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