Fed’s Powell: Election Outcome Has No Near-Term Policy Impact

Federal Reserve Chairman Jerome Powell said that for now, the central bank is not taking on board in its policy-making choices the outcome of this week’s election.

“In the near term the election will have no effects on our policy decisions,” Powell said in a press conference following a Fed meeting that resulted in an expected rate cut. “We don’t guess, speculate and we don’t assume” what future government policy choices will be, Powell said, as former President Donald Trump has been returned to office again amid policies that are likely to expand deficits and pressure inflation higher.

(Source: Reuters)

Jerome Powell

Edward Cooke

Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.

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