Posted 4/7/2024, 2:06:03 PM
Powell Affirms Fed's Independence From Politics Amid Election Pressures
- Powell asserts Fed independence, not considering politics or election cycle when setting policy
- Both parties trying to influence Fed policy ahead of election; rate cuts could benefit Biden
- Powell avoids commenting on fiscal policy topics like taxes, immigration, climate
- Declines view on climate policy specifically; says it's for elected officials, not the Fed
- Brushes off attempts by lawmakers to drag him into partisan debates during Congressional hearings