The Fed chair said the mandate is keeping inflation under control and maximizing employment.
The Federal Reserve headquarters in Washington. Kevin Dietsch/Getty Images
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Government financing doesn’t need to play a role in the Federal Reserve’s interest-rate decisions, Fed Chairman Jerome Powell said after the central bank held rates steady for the fifth meeting in a row.
President Donald Trump has repeatedly suggested that the Fed instead lower interest rates to make it cheaper for the government to service its debts. But Powell said on July 30 that this wasn’t the concern of the central bank.
Bill Pan is an Epoch Times reporter covering education issues and New York news.
