The Federal Reserve, led by Chair Jerome Powell, emphasized that its monetary policy decisions will be driven solely by economic data rather than political pressures. Powell reiterated the Fed's commitment to achieving maximum employment and maintaining stable prices. Meanwhile, former President Trump has publicly criticized Powell and the Fed for not reducing interest rates, claiming that their stance places the U.S. at a disadvantage compared to other nations like China. Despite Trump's criticisms and speculation about seeking Powell's removal, White House officials indicate that the president has no plans to act on this front.
The path of monetary policy will depend entirely on incoming economic information, focusing on maximum employment and stable prices without political influence.
Trump asserts that Powell's resistance to lowering interest rates puts the U.S. at an economic disadvantage, particularly against China.
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