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The Guardian - US
The Guardian - US
Business
Lauren Aratani in New York

Federal Reserve issues rare statement asserting independence amid Trump pressure

Donald Trump US Federal Reserve Jerome Powell the Federal Reserve United States
a man in suit speaking at podium with hands gestured
Jerome Powell in Washington DC on 7 May. Photograph: Kevin Lamarque/Reuters

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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