Jay Powell defends Federal Reserve’s authority over US monetary policy

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Jay Powell defended the Federal Reserve’s authority over US financial policies, as he promised to “focus on information” and to avoid entering politics despite the call to reduce the cost of adoption of Orrows.

The Feed Donald Trump has claimed in the White House during his first week that he understood the financial policy better than the central bank. Trump also said that the cost of adoption of orrow should be low.

Chairs Powell On Tuesday, the Senate’s banking committee informed the lawmakers of the Senate that if the central bank remained on the top of the fight, the better opportunity to control the price stood – and the left was on the left instead of determining the free interest rate from political intervention.

“We will make better principles, we will keep inflation low, if we only concentrate on our work and are away from politics, be out of elections, and do not try to hurt any political party, or to make or hurt any political party or to hit and Simply try to concentrate on the data, “Trump has said in his first presence in front of the influential committee since returning to the post of President.” If we start setting up a political filter, we will be less effective in our already difficult tasks. ”

Powell was reluctant that Trump’s decision to dismiss one of the seven members of the Fed Board of Governors was not quite clearly permitted under the Act “.

Some Democrats are concerned that the comments have come out that the Fed has already been responding to Republican pressure.

At the hearing, Democratic Senators mentioned FED’s plans to reconsider the rules for the largest banks in the country, his chief supervisor, Michael Bar, decided to decide on the role of Michael Bar and the decision to release the network to green the financial system.

However, on Tuesday, Powell made it clear that when it came about financial policies, Fed did not respond to the new administration and lawmakers on both sides of the Isle to cut off interest rates.

The Fed Chair has re-mentioned that strong growth means that the rate-setters do not “hurry” to reduce the cost of less than 5.25 percent and less than 5.5 percent in their current level.

The Trump administration’s consumer financial protection bureau and Republicans ‘concerns have been influenced by Democrats’ concerns that Americans who are leaning on the right due to their political risk are being dbeted, which Powell President denied the economic consequences of the President.

“It is still seen what the tariff policies will be implemented. It would be wise to guess when we really don’t know. We see the proposals, but it is very difficult to say what will happen, “Powell said.” This is not just a tariff. This is tariff, immigration, financial policy and regulatory policy. We will try to understand it and do what is right for financial policies. ”

Powell, however, promised to inform the committee that Billionaire Elon Mask or other members of its so -called government skills (doses) should try to access fed payment data or systems, or to try to take the central bank’s management as threatening the management.

The musk is not yet focused on its efforts to access the US Treasury payment system.