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Statement from Federal Reserve Chair Jerome H. Powell
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Flash
00:39
Powell: Investigation due to Fed's interest rates being based on economic assessment, not political willBlockBeats News, January 12, Federal Reserve Chairman Jerome Powell responded to facing a criminal investigation. Powell stated that the reason he might face criminal charges is because the Federal Reserve's interest rates are based on economic assessments rather than political will. The key issue going forward is whether the Fed's interest rate decisions will continue to be evidence-based or succumb to political influence and coercion. Powell said that he has always performed his duties impartially and will continue to do so. He respects the authority of the law, but facing criminal charges is unprecedented and signals a broader threat from the current U.S. administration toward the Federal Reserve.
00:38
US Dollar Index DXY falls below 99, down 0.18% intradayChainCatcher news, according to Golden Ten Data, the US Dollar Index (DXY) fell below 99, with an intraday decline of 0.18%.
00:38
Powell: Under Investigation for Tying Fed's Rate to Economic Assessment, Not Political WillBlockBeats News, January 12th, Federal Reserve Chairman Powell Responds to Criminal Investigation. Powell said that the possibility of facing criminal charges is because the Fed's interest rates are based on economic assessments rather than political will. The key question going forward is whether the Fed's rate decisions will continue to be evidence-based or succumb to political influence and coercion.
Powell stated that he has always carried out his duties impartially and will continue to do so. While respecting the rule of law, being criminally charged is unprecedented and is seen as a broader threat from the current U.S. government to the Fed.
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