Fed's Powell: We do not consider 'political factors' in deciding policy

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Fed's Powell: We do not consider 'political factors' in deciding policy

Washington: The US central bank does not take "political factors" into consideration when deciding whether to raise interest rates, Fed Chairman Jerome Powell said.

Following the Fed decision to raise the benchmark lending rate for the third time this year, Powell downplayed US President Donald Trump's recent comments objecting to moves he said could undermine the booming economy.

The Fed members "try to set monetary policy to achieve maximum employment in a complex of price stability.... We don't consider political factors or things like that," Powell told reporters.

APP/AFP