2024-07-11 09:00:39 ET
Summary
- Chair Powell emphasized Fed independence in his recent testimony, highlighting the importance of operational independence for achieving the dual mandate goals.
- Recent political pressures prompted Powell to defend Fed independence, citing the potential negative impact on economic performance if independence is undermined.
- International support for central bank independence was highlighted by Powell at the ECB Forum on Central Banking, emphasizing the need to resist political pressure for better economic outcomes.
Chair Powell came out swinging when he presented his Semi-Annual Monetary Policy Testimony to the Congress....
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Chair Powell Fights For Fed Independence In Semi-Annual Monetary Policy Testimony