Federal Reserve Chair Jerome Powell has stated he is not worried that President-elect Donald Trump will attempt to politicize the central bank once he takes office in January. Powell believes safeguards in congressional legislation will help preserve the Fed’s independence from political influences. He also noted that the Fed can afford to be cautious due to the strength of the US economy.
Powell expressed his confidence in the law of the land, stating there is broad support for the Fed’s decision-making independence among lawmakers from both parties. The Fed’s next rate decision will take place in two weeks, with a 75% probability of a quarter-point interest rate cut.
Source: https://www.cnbc.com/2024/12/04/powell-says-hes-not-worried-about-the-fed-losing-its-independence-under-trump.html