Fed's Powell Upholds Independence from Presidential Influence

Federal Reserve Chairman Jerome Powell emphasized his stance of not initiating meetings with U.S. presidents, asserting that any meetings have only occurred at the request of presidential offices. Powell reinforced the Federal Reserve's autonomy in decision-making during a post-Fed policy-setting committee press conference.

In a pointed clarification of the Federal Reserve's independence, Chairman Jerome Powell asserted on Wednesday that he has never initiated meetings with any U.S. president. This declaration was made during a press conference after the Fed's policy-setting committee meeting.

Powell stated, "I've never asked for a meeting with any president and I never will," emphasizing that any past interactions have been at the behest of a sitting president. With this statement, Powell reinforced the importance of the central bank's autonomy.

His remarks came as a reminder of the Fed's commitment to maintaining its policy decisions free from political influence, ensuring that its focus remains on economic data and objectives rather than political pressures.

(With inputs from agencies.)