A 'strong culture'Powell has defended the institution from political threats by citing its "strong culture" and its inability to be "disrupted." He drew scorn from Trump, who picked him for the job on Treasury Secretary Steven Mnuchin's endorsement, for raising interest rates four times last year. The President urged central bankers to slash interest rates to allow the US economy to grow even faster than it already is. Trump and top White House officials have been pressuring the Fed to slash interest rates to halt undermining the Trump administration's campaign promise of attaining 3% sustained growth. That's left Wall Street wondering if the Fed may be prompted to cut rates rather than notch rates higher.

Source: CNN May 01, 2019 10:52 UTC