theguardian.com
Powell Defies Trump, Fed Lowers Rates
Federal Reserve Chair Jerome Powell refuses to resign under pressure from Donald Trump, as the Fed lowers interest rates amid easing inflation and a new presidential term.
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Jerome PowellDonald Trump
- Will Jerome Powell resign if pressured by Donald Trump?
- Jerome Powell, the chair of the US Federal Reserve, firmly stated that he would not resign if pressured by Donald Trump's administration.
- What is the main goal of the Fed's interest rate adjustments?
- The Fed's decision to lower rates aims to balance price increases with the labor market, responding to easing inflation while keeping unemployment relatively low.
- What action did the Federal Reserve take regarding interest rates?
- The Federal Reserve lowered interest rates by a quarter point, bringing them down to 4.5% to 4.75%, marking the second consecutive rate decrease this year.
- What is Donald Trump's stance on the Federal Reserve's independence?
- Trump has been a vocal critic of the Fed's independence, suggesting that the president should have a role in setting interest rates, while Powell maintains that such actions are against the law.
- How does the upcoming US election influence Federal Reserve policies?
- Powell emphasized that the Fed's policy decisions are not influenced by short-term political considerations, such as elections; their focus is on economic factors and data.