Federal Reserve Chair Jerome Powell said on Dec. 4 that it is unlikely the U.S. central bank will lose its independence in the incoming Trump administration.
The Fed’s independence, which Powell said is “the law of the land,” has been under the spotlight since President-elect Donald Trump suggested during his presidential campaign that the White House should have a say in monetary policy, particularly when it comes to interest rates.
“I’m not concerned that there’s some risk that we would lose our statutory independence because I do think that those set of ideas are strongly believed by people,” Powell said at The New York Times’ DealBook Summit in a wide-ranging interview with host Andrew Ross Sorkin….