Federal Reserve issues rare statement asserting independence amid Trump pressure
by Lauren Aratani in New York from on (#6XM7M)
Central bank emphasizes nonpartisan role in brief memo after chair Jerome Powell meets with US president
The Federal Reserve issued a rare, strongly worded statement on Thursday after chair Jerome Powell spoke with Donald Trump at the White House on Thursday morning, holding firm on the central bank's independence amid pressure from Trump to lower interest rates.
The three-paragraph statement emphasized the Fed's independent, non-partisan role in setting monetary policy based on economic data.
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