Jerome H. Powell

This document does not constitute a monetary policy statement addressing economic conditions, inflation dynamics, or interest rate decisions. Rather, Chair Powell's remarks focus exclusively on institutional independence and the Federal Reserve's autonomy from political interference, asserting that rate-setting must remain grounded in "evidence and economic conditions" rather than "political pressure or intimidation." Consequently, no neutral monetary policy stance can be discerned from this excerpt, as it contains no forward guidance, assessment of macroeconomic data, or deliberation on policy adjustments. --- - "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President." - "This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation." - "I have deep respect for the rule of law and for accountability in our democracy."