Federal Reserve chief defends raising interest rates, signaling Trump can't pressure him
WASHINGTON - Federal Reserve Chairman Jerome H. Powell on Friday defended the central bank's policy of gradually increasing a key interest rate and signaled that the hikes will continue, brushing off President Trump's recent public criticisms.
Powell did not mention Trump in a speech at a central bankers conference in Jackson Hole, Wyo. But speaking publicly for the first time since Trump said last month that he was "not thrilled" with recent rate hikes, Powell indicated the Fed plans to continue its efforts to normalize interest rates that had been kept historically low to fight the Great
