WH: Fed is independent institution - Breaking The News

WH: Fed is independent institution

2 November

1 min read

EPA-EFE/AL DRAGO

White House Press Secretary Karine Jean-Pierre remarked at her press conference on Wednesday that the United States Federal Reserve is an independent agency that functions without influences from President Joe Biden's administration.

Asked about the option of the central bank hiking interest rates again to fight the rise in prices, Jean-Pierre stressed that Biden believes that the Fed "has the best monetary policies to address inflation." She added that it was chairman Jerome Powell who is "committed to that very kind of charge," not the administration.

Meanwhile, during Jean-Pierre's conference, the Federal Reserve unveiled its decision to raise the interest rate benchmark by 75 basis points.

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