Federal Reserve Chair Jerome Powell told lawmakers on Capitol Hill on Wednesday that the president’s calls for lower interest rates will not influence the central bank’s decisions, reiterating that Fed policymakers remain committed to following a data-dependent path on monetary policy.
“People can be confident that we’ll continue to keep our heads down, do our work, and make our decisions based on what’s happening in the economy,” Powell said on Feb. 12, the second day of his semiannual testimony to Congress.
