Powell Addresses Political Influence on Upcoming Rate Cut at FOMC Meeting
Wednesday, 10 July 2024, 17:27
Federal Reserve Chair Powell on Political Influence
Federal Reserve Chairman Jerome Powell addresses the impact of political factors on the decision-making process of the Federal Open Market Committee (FOMC).
Assurance of Independence
Powell emphasizes that political considerations will not heavily influence the FOMC's stance on the potential rate cut in September.
- Commitment to Data: The Fed remains focused on economic indicators and data-driven analysis.
- Market Stability: The goal is to ensure stability and informed decision-making.
The statement serves to reiterate the Fed's dedication to maintaining its autonomy and objective decisions.
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