On Thursday, the Federal Reserve issued a rare, firm statement affirming its independence following a conversation between Chair Jerome Powell and President Trump. The statement stressed that monetary policy decisions would rely solely on economic data and would not be altered by political pressures. Powell asserted that the Fed would continue to ensure maximum employment and stable prices based on objective analysis, reflecting the central bank's commitment to its nonpartisan role despite Trump's ongoing efforts to influence interest rates.
The Federal Reserve's strongly worded statement reaffirms its independence and nonpartisan role in setting monetary policy amidst pressures from President Trump to lower interest rates.
Powell emphasized that the Federal Reserve would base its monetary policy decisions exclusively on economic data, without political influence.
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