Fed's Powell against 'blending' monetary, fiscal policy - Breaking The News

Fed's Powell against 'blending' monetary, fiscal policy

10 July

1 min read

EPA-EFE/PETE MAROVICH

United States Federal Reserve Chairman Jerome Powell spoke on Wednesday against "blending" the institution's monetary and the country's fiscal policy, saying that "we're trying to keep them separate."

In his testimony before the House Financial Services Committee, Powell expressed his belief that the fiscal policy is for "elected people." He added that the Fed conducts its monetary policy in accordance with the legislative bodies' decisions.

Furthermore, Powell said that it is "essential" for the Fed to remain independent, as that is the "best for promoting price stability." He also noted that Capitol Hill agrees with that assessment.

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