Jerome Powell, chairman of the Federal Reserve, said he had not talked to President Donald Trump on Wednesday.
Powell stated that he had not contacted the president since his statement last week after the Fed’s decision to stabilize interest rates.
“I don’t intend to reply or comment on what the president has said. Doing so is not appropriate for me. We need to be convinced that we will continue to work as usual. Our. Powell said on Wednesday, a tool to achieve his goals and work with his head.
Since its establishment in 1913, the federal preparation system has been designed to determine interest rates regardless of the pressure from the elected officials. However, in his first term as the president, Trump spoke abnormally in his opinion about what the central bank should do. He pointed out that his remarks in the 2024 campaign and his second stint in the White House since his victory.
“We require interest rates to fall soon,” said Trump last week in a virtual appearance in front of the World Economic Forum held in Davos, Switzerland. “And, as well, they should have fallen all over the world. Interest rates should follow us.”
Powell was originally nominated by Trump in 2018 by the chair of the committee by Trump and took over his position. He is currently appointed in the second phase until May 15, 2026.
Powell said that if he was asked by Trump, he would not resign from his position, and he believed that it was “not allowed under the law” to delete or demoted the Fed chair. 。
The first decision on Wednesday was the first decision since Trump returned to the White House. The Fed has reduced the number of benchmark interest rates in the previous three meetings by 1 %. Inflation measurements are still exceeding the 2 % goals of the central bank.
