Fed chief Jerome Powell tells '60 Minutes' that White House pressure didn't affect the decision to pause rate hikes, and believes Trump can't fire him.
Federal Reserve Chairman Jerome Powell turned into a cheerleader for the economy in an interview with “60 Minutes” on Sunday.
In the interview, Powell said the Fed’s decision to pause on interest-rate hikes was not due to White House pressure. “We will never, ever take political considerations into effect,” he said. The American banking system is much stronger and resilient than it was before the financial crisis, Powell said, and the Fed has made a great deal of progress in letting a large financial institution fail.
It has been relatively rare for Fed officials to appear on the national stage. But appearing on “60 Minutes” is now something of a rite of passage for Fed chairmen.
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