THE GUARDIAN: Fed chair declines to provide ‘any response or comment whatsoever’ on president’s public demands for lower rates
Federal Reserve officials decided on Wednesday to hold interest rates steady as uncertainty over Donald Trump’s impact on the US economy looms and inflation remains above the central bank’s target levels.
This is the first time Fed policymakers have met since the president, who has made clear he wants rates to fall, returned to the White House. The benchmark interest rate now sits at a range of 4.25% to 4.5%.
Jerome Powell, the Fed chair, declined to provide “any response or comment whatsoever” on the president’s public demands for lower rates. “The public should be confident that we will continue to do our work as we always have, focusing on using our tools to achieve our goals,” he said in a press conference on Wednesday. » | Lauren Aratani in New York | Wednesday, January 29, 2025
