Fed's Powell says 'political considerations' have played no role in central bank's decision-making

Federal Reserve chairman Jerome Powell denied Wednesday that the central bank's decision-making has been influenced by any political pressure.

"Political considerations play no role whatsoever in our discussions or decisions about monetary policy. We're always going to be focused on the mission that Congress has given us," Powell said. "We have the tools to carry it about, we have the independence that we think is essential to be able to do our jobs in a non-political way. We at the Fed are absolutely committed to that mission and nothing will deter us from doing what we think is the right thing to do."

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