(Reuters) Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is “insulated from short-term political pressures,” as policymakers faced new calls by President Donald Trump to cut interest rates.
JUAN PEREZ, SENIOR CURRENCY TRADER, TEMPUS, INC., WASHINGTON:
“He never doubles down on negativity, despite agreeing that the economy could use some help via central bank intervention. Powell wants to wait and see because he admits changes have been very rapid. Euro above $1.14 isn’t unrealistic, but dollar weakness will not be sustained just by Fed fears, but by good data elsewhere, and there’s no consistency in that.”